InsideArbitrage Event Driven Monitor – October 19, 2022

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

Merger Arbitrage

1. AVEO Oncology (AVEO) to be acquired by LG Chem for $440.99 million or $15.00 per share in cash.
2. Akouos (AKUS) to be acquired by Eli Lilly and Company (LLY) for $248.84 million. Under the terms of the agreement, Lilly will acquire Akouos for a purchase price of $12.50 per share in cash plus one non-tradeable contingent value right per share (“CVR”) that entitles the holder to receive up to an additional $3.00 in cash, for a total consideration of up to $15.50 per share in cash without interest.
3. Semtech Corporation (SMTC) and Sierra Wireless (SWIR) announced that each company has received a request for additional information and documentary material from the U.S. Department of Justice in connection with Semtech’s previously announced acquisition of Sierra Wireless.

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