Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

InsideArbitrage Event Driven Monitor – October 26, 2023

  • October 26, 2023
We don’t normally include insider purchases by 10% owners in these posts but it is worth mentioning that Berkshire Hathaway filed form 4s last evening indicating they purchased more than $246 million worth of oil producer Occidental Petroleum (OXY). Buffett has been buying OXY for a while now but most purchases have been below the $62 level. It looks like he decided to pay up a little with these latest purchases given the rise of crude oil prices. The back-to-back deals for Pioneer Natural Resources (PXD) and Hess (HES) by Exxon Mobil and Chevron respectively probably also played a part in him stepping up Berkshire’s purchases of OXY. Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage SCU: Sculptor Capital Management (SCU) said the company received a non-binding proposal on October 13 from a consortium that raised its bid for the firm to $13.50 per share of class A common stock. CPRI: Capri Holdings (CPRI) announced that it has received shareholders’ approval to be acquired by Tapestry (TPR). FRGI: Fiesta Restaurant Group (FRGI) announced that it has received approval from its shareholders to be acquired by Authentic Restaurant Brands, a portfolio company of Garnett Station Partners, LLC....

Only plus or premium subscribers can access this post. Subscribe today.