InsideArbitrage Event Driven Monitor – November 25, 2022

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

Merger Arbitrage

1.  According to Reuters, the U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft’s (MSFT) takeover bid for Activision Blizzard (ATVI).
2. Altra Industrial Motion (AIMC) and Regal Rexnord Corporation (RRX) filed their preliminary proxy statement. The initial 30-day waiting period, with respect to the HSR Act is scheduled to expire on December 9, 2022, unless otherwise extended. The deal is expected to be completed in the first half of 2023.
3. UserTesting (USER) and Thoma Bravo and Sunstone Partners filed their preliminary proxy statement. The companies made the filings required under the HSR Act on November 9, 2022. Completion of the Merger is further subject to certain regulatory actions by the United Kingdom Competition and Markets Authority (“CMA”) and the Australian Competition and Consumer Commission (“ACCC”). The “Go-Shop Period” ends on December 10, 2022.

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