InsideArbitrage Event Driven Monitor – December 6, 2022

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

Merger Arbitrage

1. The merger of Salisbury Bancorp (SAL) with NBT Bancorp (NBTB) for $204 million in an all stock deal. Under the terms of the agreement, shareholders of Salisbury Bancorp will receive 0.7450 shares of NBT common stock.
2. Emclaire Financial (EMCF) and Farmers National Banc (FMNB) received regulatory approvals, including approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, necessary to complete their proposed merger. The Merger is expected to be completed in January of 2023.
3.  F-star Therapeutics (FSTX) and invoX Pharma extended the expiration date for the tender offer to December 16, 2022. The Offer was previously set to expire on December 2, 2022.

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