The Special Situation Report #118: 7/14 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
Grifols (GRFS) founding family and asset manager Brookfield Fund are negotiating a takeover bid for the company (Filing)
Martin Midstream Partners (MMLP) Nut Tree Capital Management and Caspian Capital disclosed a proposal to acquire the company for $4.00/unit in cash (Press Release)
Rumors
Barnes Group (B) reportedly hired investment bankers to explore a potential sale transaction (Seeking Alpha)
HubSpot (HUBS) fell on a report that Google parent Alphabet (GOOGL) abandoned plans to purchase the company (Bloomberg)
Legend Biotech (LEGN) reportedly received takeover interest and hired an investment bank to review its options (Seeking Alpha)
STAAR Surgical (STAA) reportedly approached by larger rival Alcon (ALC) (Seeking Alpha)
Teck Resources (TECK) reportedly draws renewed takeover interest from Rio Tinto (RIO) (Reuters)
ZoomInfo Technologies (ZI) gained amid a report of private equity takeover speculation for the software and data company (Seeking Alpha)
Update on Shareholder Activism
Five9 (FIVN) investment management firm Anson Funds reportedly built up a stake and is pushing the company to sell itself (Reuters)
Vista Outdoor (VSTO) shareholder TIG Advisors is urging the company’s board to accept the MNC Capital acquisition offer of $42 per share for the entire company (Letter)
Update on Other Special Situations
MarineMax (HZO) gained after Island Capital Group offered to buy the company's yachting and marina business (Press Release)
Paramount Global's (PARA) board agreed to a deal with Skydance Media (Press Release, Presentation)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Financials
Envestnet (ENV) / Bain Capital – $4.5bn (Press Release)
Healthcare
Morphic Holding (MORF) / Eli Lilly (LLY) – $3.2bn (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.