InsideArbitrage Event Driven Monitor – November 7, 2023

Merger Arbitrage

1. BVH: Bluegreen Vacations Holding Corporation to be acquired by Hilton Grand Vacations (HGV) for $1.5 billion or $75 per share in cash.
2. HHRS: Hammerhead Energy by Crescent Point Energy (CPG) for $1.73 billion in a cash-plus stock deal. Under the terms of the agreement, each Hammerhead Share will be exchanged for C$15.50 of cash consideration and C$5.50 in value in the form of common shares of Crescent Point, based on the offering price of the concurrent equity offering announced by Crescent Point.
3. SQNS: Renesas Electronics Corporation extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans Communications to November 21, 2023. The Secretary of State in the Cabinet Office of the United Kingdom has determined not to take any further action in relation to the previously announced proposed acquisition of Sequans by Renesas under the National Security and Investment Act 2021.

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