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InsideArbitrage Event Driven Monitor – January 19, 2024

  • January 19, 2024
Merger Arbitrage MDC: The acquistion of M.D.C. Holdings (MDC) by Sekisui House (SKHSY) for a closing value of $4.83 billion or $63 per share in cash. CERE: Cerevel Therapeutics (CERE) and  AbbVie (ABBV) following discussions with the FTC, voluntarily withdrew the initial HSR Act notification and refiled a new HSR Act notification.  The waiting period under the HSR Act is set to expire on February 16, 2024. IRBT: According to The Wall Street Journal, the European Union’s competition watchdog intends to block Amazon’s (AMZN) bid to purchase iRobot (IRBT). GRCL: Gracell Biotechnologies Inc. (GRCL) and AstraZeneca (AZN) made the filings required under the HSR Act on January 10, 2024. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deal in the Works LL: LL Flooring (LL) founder Tom Sullivan withdraws his $3 per share takeover offer. Insider Purchases CHMG: Joseph F. Meade, a Director of regional bank Chemung Financial Corp (CHMG), purchased 582 shares at an average price of $48.11 totaling $28,000. It is possible that this is not an open market purchase because a group of directors were awarded shares at the exact same price and this filing appears to be a mistake. We...

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