InsideArbitrage Event Driven Monitor – November 10, 2022

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

Merger Arbitrage

1. OceanFirst Financial (OCFC) and Partners Bancorp (PTRS) jointly announced that they have agreed to terminate the merger agreement.
2. A form-4 filing on Tuesday indicated that Zendesk (ZEN) accelerated restricted stock units (RSUs) originally scheduled to vest on November 15 to November 4 in order to facilitate the settlement of taxes due upon vesting of such RSUs, “in advance of the closing” of its sale to Permira and Hellman & Friedman.
3. The European Commission has opened an in-depth investigation to assess the proposed acquisition of Activision Blizzard (ATVI) by Microsoft (MSFT) under the EU Merger Regulation.

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