The Special Situation Report #121: 8/4 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
23andME (ME) issued a response to the CEO’s offer to purchase the company for $0.40 per share (Press Release)
Martin Midstream Partners (MMLP) suitors Nut Tree Capital Management and Caspian Capital raised their takeover offer to $4.50 / unit in cash (Press Release)
Vista Outdoor (VSTO) announced a review of strategic alternatives (Press Release)
Rumors
Dun & Bradstreet (DNB) gained on a report that the company is working with an adviser to consider a sale after takeover interest (Reuters)
Flywire (FLYW) reportedly working with an adviser to explore a sale amid takeover interest (Reuters)
Retail Opportunity Investments Corp. (ROIC) reportedly in early-stage sale talks with Blackstone (BX) (Reuters)
Tenable Holdings (TENB) reportedly working with adviser to explore its options after receiving takeover interest (Bloomberg)
Update on Shareholder Activism
Solventum (SOLV) activist Trian Fund Management has a few levers to pull to generate value (CNBC)
Valens Semiconductor (VLN) entered a board nomination agreement with Value Base (Press Release)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Financials
Enstar Group (ESGR) / Sixth Street – $5.1bn (Press Release)
Heartland BancCorp (HLAN) / German American Bancorp (GABC) – $330mm (Press Release, Presentation)
The First Bancshares (FBMS) / Renasant Corp (RNST) – $1.2bn (Press Release, Presentation)
Technology, Media & Telecommunications
Cepton (CPTN) / Koito Manufacturing – $50mm (Press Release)
R1 RCM (RCM) / TowerBrook & CD&R – $8.9bn (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.