The Special Situation Report #115: 6/16 Roundup
The Special Situation Report #115: 6/16 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
DMC Global (BOOM) received a non-binding takeover proposal from 10% shareholder Steel Connect (Press Release)
R1 RCM (RCM) granted a waiver that extended the time TowerBrook and New Mountain have to discuss a takeover bid for the company (Filing)
Whitestone REIT (WSR) rejected a takeover bid from MCB Real Estate (Press Release)
Vanda Pharmaceuticals (VNDA) gained after Future Pak raised the cash portion of its unsolicited takeover proposal (Press Release)
Rumors
DXC Technology (DXC) reportedly draws interest from Apollo Global (APO) and Kyndryl (KD) (Reuters)
Paramount Global (PARA) dropped amid a report that Shari Redstone's National Amusements has stopped talks with bidder Skydance Media (WSJ)
Update on Shareholder Activism
Southwest Airlines (LUV) activist investor Elliott Investment Management disclosed a $1.9 billion stake in the company and is calling for new management and a strategic review (Letter)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Energy & Natural Resources
Diamond Offshore Drilling (DO) / Noble Corporation (NE) – $2bn (Press Release, Presentation)
Financials
ICC Holdings, Inc. (ICCH) / Mutual Capital Group – $80mm (Press Release)
If you enjoyed reading this Report, please do me the huge favor of simply pressing the “Like” button.
The content herein is informational and should not be relied upon as fact. Do your own diligence before making any investment decisions.