Merger arb faces regulatory change and volatility in 2023, says Cheyne head

• Regulatory moves mean “new rules of engagement for M&A” this year
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• Related: Event-driven leads industry performance

Merger arb managers are still trying to “understand the new rules of engagement for M&A” as regulators up their focus on deal-making, according to Cheyne Capital’s head of event-driven.

“There is currently an unprecedented effort by the main agencies across the world to tackle big tech M&A,” said Pierre di Maria.