The Special Situation Report #116: 6/23 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
Vanda Pharmaceuticals (VNDA) rejected two unsolicited buyout proposals from Cycle Group Holdings and Future Pak, LLC citing concerns over valuation (Press Release)
Rumors
AtriCure (ATRC) reportedly draws takeover interest from Edwards Lifesciences (EW) (Seeking Alpha)
Evotec SE (EVO) has reportedly hired defense advisers over fears of a potential takeover bid (Bloomberg)
Penn Entertainment (PENN) reportedly approached by Boyd Gaming (BYD) regarding a takeover transaction (Reuters)
Spirit AeroSystems (SPR) reportedly close to a deal to be sold to Boeing (BA) (Reuters)
Update on Shareholder Activism
Autodesk (ADSK) activist investor Starboard Value has accumulated a $500mm stake in the company (Letter)
Update on Other Special Situations
Primo Water (PRMW) and BlueTriton Brands agreed to merge in an all-stock transaction (Press Release, Presentation)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Consumer & Retail
The Aaron's Company (AAN) / IQVentures Holdings – $500mm (Press Release)
Healthcare
Sharecare (SHCR) / Altaris – $450mm (Press Release)
Silk Road Medical (SILK) / Boston Scientific (BSX) – $1bn (Press Release)
Vapotherm (VAPO) / Perceptive Advisors – $130mm (Press Release)
Industrials
BEST Inc. (BEST) / Phoenix Global Partners – $250mm (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.