InsideArbitrage Event Driven Monitor – May 19, 2023

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

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Merger Arbitrage

1. Urstadt Biddle Properties (UBP) to be acquired by Regency Centers Corporation (REG) for $1.4 billion in an all stock deal. Under the terms of the Agreement, Urstadt Biddle’s Class A common (UBA) and common (UBP) stockholders will receive 0.347 of a newly-issued REG share for each UBA or UBP share they own.
2. Ranger Oil Corporation (ROCC) announced that the special meeting of stockholders will be on June 16, 2023.
3. Kimball International (KBAL) announced that it expects to close the deal with HNI Corporation (HNI) on June 1, 2023.

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