InsideArbitrage Event Driven Monitor – November 8, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Mondays not only brought with it three new deals, we also saw a significant uptick in insider buying with insiders at 21 different companies meeting our criteria for inclusion.
Merger Arbitrage.
- The acquisition of IAA, Inc. (IAA) by Ritchie Bros. Auctioneers Incorporated (RBA) for $7.3 billion in a cash-plus stock deal. Under the terms of the merger agreement, IAA stockholders will receive $10.00 in cash and 0.5804 shares of Ritchie Bros. common stock for each share of IAA common stock they own.
- The merger of Velodyne Lidar (VLDR) and Ouster (OUST) in an all-stock deal. Under the terms of the agreement, each Velodyne share will be exchanged for 0.8204 shares of Ouster at closing
- The acquisition of Oyster Point Pharma (OYST) by Viatris (VTRS) for $281 million. Under the terms of the agreement, shareholders of Oyster Point Pharma will receive $11.00 per share in cash plus a contingent value right for a potential cash payment of up to $2.00 per share upon achievement of specified performance targets by Oyster Point Pharma for full year 2022.
Only plus or premium subscribers can access this post. Subscribe today.
