InsideArbitrage Event Driven Monitor – October 26, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. With earnings season upon us, we are starting to see an uptick in both insider buying and buyback activity.
Merger Arbitrage
- Limestone Bancorp (LMST) to be acquired by Peoples Bancorp (PEBO) for $208.2 million in an all stock deal. Under the terms of the agreement, shareholders of Limestone will receive 0.90 shares of Peoples common stock for each share of Limestone common stock, and the Merger is expected to qualify as a tax-free reorganization for Limestone shareholders.
- Canada imposed conditions on Rogers Communications’ (RCI) proposed remedy to overcome competition bureau concerns about its planned purchase of Shaw Communications (SJR).
- PBF Logistics (PBFX) announced that the special meeting of stockholders will be on November 30, 2022.
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