FYI – no email next week due to the July 4th holiday.
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
International Paper (IP) shares fell after Suzano (SUZ) dropped its takeover pursuit (Press Release)
Vista Outdoor (VSTO) again delayed a shareholder vote on the planned sale of its ammo business to Czechoslovak Group after MNC Capital Partners increased its cash offer for the entire company (Press Release)
Rumors
Spirit AeroSystems (SPR) reportedly offered a deal consisting of mainly stock of Boeing (BA) that values the company at about $35 a share (Bloomberg)
Whirlpool (WHR) gained on reports that German engineering company Bosch was weighing a bid for the appliances manufacturer (Reuters)
ZimVie (ZIMV) reportedly considering a sale amid takeover interest (Bloomberg)
Update on Shareholder Activism
Masimo (MASI) activist Politan Capital Management published a letter and presentation detailing their desire for an independent board of directors (Press Release, Presentation)
Rapid7 (RPD) activist Jana Partners has accumulated a stake and reportedly plans to push for a sale (WSJ)
Southwest Airlines (LUV) activist Elliott Management released a statement regarding the airlines’ revenue guidance reduction (Press Release)
Update on Other Special Situations
FedEx (FDX) conducting an assessment of its freight business, expected to explore a potential spin-off (WSJ)
Illumina (ILMN) completed the spin-off of GRAIL (GRAL) (Press Release, Presentation)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Healthcare
Agile Therapeutics (AGRX) / Insud Pharma – $45mm (Press Release)
Alimera Sciences (ALIM) / ANI Pharmaceuticals (ANIP) – $380mm (Press Release, Presentation)
Technology, Media & Telecommunications
Infinera (INFN) / Nokia (NOK) – $2.3bn (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.