AQR Makes Appraisal Arbitrage Bet on $8 Billion Clearwater Deal

AQR Capital Management filed an appraisal claim contesting the $8.4 billion acquisition price of Clearwater Analytics Holdings Inc. by a consortium including Permira and Warburg Pincus. Appraisal rights allow shareholders to seek judicial determination of fair value for their shares in merger transactions. AQR's action represents one of multiple similar claims filed in recent years by investors seeking higher payouts after deal announcements.

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