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InsideArbitrage Event Driven Monitor – November 20, 2023

  • November 20, 2023
Merger Arbitrage PNT: Eli Lilly and Company (LLY) announced the extension of the expiration of the tender offer to acquire POINT Biopharma Global (PNT) from November 16, 2023, to December 1, 2023. SCU: The acquisition of Sculptor Capital Management (SCU) by Rithm Capital Corp. (RITM) was completed on November 17, 2023. It took 116 days for this deal to be completed. ABCM: Abcam announced that all Identified Clearances required in connection with its transaction with Danaher Corporation (DHR) have been obtained from the relevant Governmental Authorities. The Transaction remains subject to the sanction of the Scheme by the High Court of Justice of England and Wales. The Court Hearing at which the Court will be asked to sanction the Scheme has been scheduled to be held on December 4, 2023. The transaction is expected to be completed on December 6, 2023. PFIN: P&F Industries, Inc. (PFIN) announced that the special meeting of shareholders will be held on December 19, 2023. TMBR: Timber Pharmaceuticals (TMBR) filed for chapter 11 bankruptcy protection after LEO Pharma terminated the merger agreement that didn’t receive a sufficient stockholder vote. SAVE: In connection with the Agreement and Plan of Merger JetBlue Airways (JBLU) has set November 24, 2023, as the record date for the November 2023 prepayment to Spirit (SAVE) stockholders...

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