InsideArbitrage Event Driven Monitor – February 12, 2024

Merger Arbitrage

1. DOOR: The acquisition of Masonite International (DOOR) by Owens Corning (OC) for a closing value of $3.9 billion or $133 per share in cash.
2. CWBC: Central Valley Community (CVCY) and Community West (CWBC) announced that shareholders of both companies approved the merger at special meetings held on February 8, 2024. Additionally, all required regulatory approvals have been received for the merger and the closing of the transaction is expected to be completed as of April 1, 2024. Following the closing of the merger, the resulting company will assume the name Community West Bancshares, and Central Valley Community Bank will assume the name Community West Bank. The conversion of all operational systems is expected to be completed in the third quarter of 2024.
3. EGLE: Star Bulk (SBLK) and Eagle (EGLE) each filed their respective HSR Act notification forms on December 22, 2023, and the waiting period under the HSR Act expired on January 22, 2024.  Star Bulk filed the applicable notification under the GWB on January 3, 2024, and received clearance from the FCO on January 12, 2024. Star Bulk submitted the applicable Business Combination Report with respect to the merger on January 10, 2024, and received clearance from the Korea Fair Trade Commission with respect to the merger on February 6, 2024.

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