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
Embecta (EMBC) has reportedly hired advisers to evaluate a potential sale as its shares have languished after the company was spun off from Beckton Dickinson (BDX) (Financial Times)
Mattel (MAT) shares gained after a report that private equity firm L Catterton approached the company with a takeover offer (Reuters)
Rentokil (RTO) shares gained amid a report that the former CEO of BT Group is in talks with private equity about a takeover for the company (Reuters)
Teck Resources (TECK) reportedly drawing takeover attention due to its attractive copper assets (Bloomberg)
Update on Shareholder Activism
Equity Commonwealth (EQC) investor Indaba Capital Management urged the REIT to stop pursuing acquisitions and instead pushed for a plan to liquidate (Press Release)
Solventum (SOLV) shares gained on a report that activist investor Nelson Peltz's Trian Fund Management has taken a stake in the 3M (MMM) healthcare spinoff (Bloomberg)
Southwest Airlines (LUV) activist investor Elliott Investment Management released a new statement regarding operational changes at the company (Press Release)
Update on Other Special Situations
WH Group Ltd. (WHGLY) announced the planned spin-off of its Smithfield Foods business (Press Release)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Energy & Natural Resources
Tellurian (TELL) / Woodside Energy (WDS) – $1.2bn (Press Release & Presentation)
Financials
Fentura Financial (FETM) / ChoiceOne Financial Services (COFS) – $180mm (Press Release, Presentation)
Premier Financial (PFC) / WesBanco (WSBC) – $960mm (Press Release, Presentation)
Traditions Bancorp (TRBK) / ACNB (ACNB) – $74mm (Press Release, Presentation)
Consumer & Retail
Everi Holdings (EVRI) / Apollo (APO) – $2bn (Press Release)
Technology, Media & Telecommunications
Bally’s (BALY) / Standard General – $4.6bn (Press Release)
Instructure Holdings (INST) / KKR (KKR) – $4.8bn (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.