The Special Situation Report #104: 3/24 Roundup
The Special Situation Report #104: 3/24 Roundup
Summary of the Week in Special Situations
Table of Contents:
Update on Developing M&A
Update on Shareholder Activism
Update on Other Special Situations
Announced M&A
Update on Developing M&A
Strategic Alternatives & Ongoing Situations
Gildan Activewear (GIL) confirmed discussions with potential acquirers after receiving inbound interest (Press Release)
Rumors
Nordstrom’s (JWN) founding family is reportedly renewing efforts to take the company private (Reuters)
Rush Street Interactive (RSI) is reportedly exploring strategic options, including a potential sale (Bloomberg)
Shift4 Payments’ (FOUR) CEO reportedly told staff that buyout offers didn’t adequately value the company (Bloomberg)
Soho House (SHCO) reportedly in on-and-off sale discussions with CC Capital (Reuters)
Topgolf Callaway Brands (MODG) denied media reports that the company could be up for sale (Press Release)
Update on Shareholder Activism
SilverBow Resources (SBOW) shareholder Riposte Capital said it supports Kimmeridge Energy's recent buyout offer (Letter)
Update on Other Special Situations
Spin-Offs
Masimo Corp. (MASI) is evaluating a spinoff of its consumer business, which includes its consumer audio and health products (Press Release)
Unilever (UL) announced the separation of its ice cream business (Press Release)
Other
International Flavors & Fragrances (IFF) to sell its pharma solutions business unit to Roquette for ~$3bn (Press Release)
Johnson Controls (JCI) reportedly working with advisors to sell its residential and light commercial heating and ventilation assets (Reuters)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Healthcare
Fusion Pharmaceuticals (FUSN) / AstraZeneca (AZN) – $2bn (Press Release)
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The content herein is informational and should not be relied upon as fact. Do your own diligence before making any investment decisions.