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InsideArbitrage Event Driven Monitor – November 1, 2023

  • November 1, 2023

Merger Arbitrage

  1. 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.
  2. 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.
  3. TRHC: Tabula Rasa HealthCare (TRHC) announced that its stockholders approved the previously announced acquisition by Nautic Partners.

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

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