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InsideArbitrage Event Driven Monitor – February 8, 2024

  • February 8, 2024
Merger Arbitrage MOR: MorphoSys (MOR) disclosed a definitive merger agreement outlining termination fee specifics. In the event of a termination, Novartis would be liable to pay MorphoSys EUR 100 million, while MorphoSys would incur a EUR 50 million fee payable to Novartis. AXNX: Axonics (AXNX) and Boston Scientific (BSX) filed notification and report forms under the HSR Act with the DOJ and the FTC on January 30, 2024. PXD: Pioneer Natural Resources Company (PXD) announced that the company received shareholder approval for the pending merger with Exxon Mobil Corporation (XOM). HA: Alaska (ALK) and Hawaiian (HA)  each received a Second request from the Antitrust Division of the Department of Justice in connection with the DOJ’s review of the merger. Alaska and Hawaiian expect to promptly respond to the second request and to continue working cooperatively with the DOJ as it conducts its review of the merger. JNPR: According to the preliminary proxy statement filed, Juniper Networks (JNPR) and Hewlett Packard Enterprise (HPE) require specific approvals, including clearance under the HSR Act, as well as compliance with various antitrust regulations, foreign investment laws, and the EU Foreign Subsidies Regime. HOLI: Hollysys Automation Technologies (HOLI) announced the company’s shareholders voted in favor of the proposal to authorize and...

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