The Special Situation Report #112: 5/26 Roundup
The Special Situation Report #112: 5/26 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
Martin Midstream Partners (MMLP) received a buyout offer from Martin Resource Management for all the units it does not already own (Press Release)
Millicom International Cellular (TIGO) shareholder Atlas Investments SASU submitted a preliminary non-binding proposal to acquire the company (Filing)
Sprout Social (SPT) denied a report regarding a process to take the company private (Filing)
Vanda Pharmaceuticals (VNDA) rejected a takeover offer from Future Pak that "substantially undervalues" the company (Press Release)
Rumors
Envestnet (ENV) reportedly draws takeover interest from buyout funds including Advent International and GTCR (Bloomberg)
Instructure Holdings (INST) 83% owner is Thoma Bravo is reportedly exploring a sale of the company and retained an adviser to solicit interest from potential buyers (Reuters)
International Paper (IP) suitor Suzano (SUZ) is considering raising its $15 billion takeover offer for the company (Reuters)
PowerSchool Holdings (PWSC) reportedly has formed a special committee to evaluate a potential takeover by private equity firms (Bloomberg)
Stericycle (SRCL) reportedly working with an adviser as it considers its options including a potential sale (Bloomberg)
Update on Shareholder Activism
Johnson Controls (JCI) activist Elliott Investment Management has accumulated a $1bn+ stake in the company (Bloomberg)
Update on Other Special Situations
Spin-Offs
DuPont (DD) announced a plan to separate into three distinct publicly traded companies (Press Release, Presentation)
Other
V.F. Corp (VFC) reportedly receives buyer interest for its individual brands as well as a potential sale of the entire company (Seeking Alpha)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Energy & Natural Resources
Overseas Shipholding Group (OSG) / Saltchuk Resources – $950mm (Press Release)
Financials
Independent Bank Group (IBTX) / SouthState Corp. (SSB) – $2bn (Press Release, Presentation)
1st Capital Bancorp (FISB) / West Coast Community Bancorp (SCZC) – $63mm (Press Release, Presentation)
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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.
You missed CBOBA acquisition announcement which is another small bank.