InsideArbitrage Event Driven Monitor – October 1, 2024

Merger Arbitrage

1. TBNK: Territorial Bancorp (TBNK) reaffirmed the commitment of its Board of Directors to the proposed merger with Hope Bancorp (HOPE). Territorial again rejected Blue Hill’s proposal as remaining highly uncertain, inferior to the Hope Merger Agreement, and unlikely to benefit Territorial shareholders.
2. ESGR: Enstar (ESGR) filed the preliminary proxy statement for its merger with Sixth Street. The waiting period under the HSR Act expired on September 18, 2024.
3. HES: The FTC allowed Chevron’s (CVX) acquisition of Hess (HES), in an order that barred Hess CEO John Hess from Chevron’s board.

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

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