InsideArbitrage Event Driven Monitor – October 18, 2022

Quick updates on the event-driven strategies we follow on InsideArbitrage.

Merger Arbitrage

1. Continental Resources (CLR) to be acquired by Omega Acquisition, an entity that is owned by Continental’s founder, Harold G. Hamm for $4.3 billion. Omega Acquisition will purchase any and all of the outstanding shares of Continental’s common stock at $74.28 per share, other than (i) shares of common stock owned directly or indirectly by Mr. Hamm and the Hamm family and (ii) shares of common stock underlying unvested equity awards issued pursuant to Continental’s long-term incentive plans (the “Rollover Shares”). The offer price includes $0.28 in lieu of Continental’s anticipated dividend for the third quarter of 2022.
2. Archaea Energy (LFG) to be acquired by BP p.l.c. (BP) for $4.1 billion or $26 per share in cash.
3. STORE Capital Corporation (STOR) announced the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement with GIC and Oak Street.

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