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InsideArbitrage Event Driven Monitor – November 1, 2023

  • November 1, 2023
Merger Arbitrage SAVE: According to Reuters, a U.S. Department of Justice lawyer urged a federal judge to block JetBlue Airways’ (JBLU) planned acquisition of Spirit Airlines (SAVE) at the start of a closely-watched antitrust trial. In her opening statement, Justice Department attorney Arianna Markel told U.S. District Judge William Young that the deal would lead to fewer flights and seats and higher prices. This Twitter thread posted the proceedings of the first day live and while nothing new that was revealed, overall it looks like the DOJ has a difficult case on their hands. DEN: Denbury (DEN) announced that its stockholders voted to approve its merger with Exxon Mobil Corporation (XOM). The transaction is expected to be completed on November 2, 2023. TRHC: Tabula Rasa HealthCare (TRHC) announced that its stockholders approved the previously announced acquisition by Nautic Partners. LVOX: LiveVox Holdings, Inc. and NICE filed their notifications and reports under the HSR Act on October 6, 2023. The waiting period is expected to expire on November 6, 2023. LiveVox also submitted a voluntary CFIUS filing on October 6, 2023. SGEN: In a television interview with Bloomberg, Pfizer (PFE) CEO Albert Bourla reiterated that he expects the planned acquisition of Seagen (SGEN) to close before the...

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