Table of Contents:
Update on Developing M&A
Update on Shareholder Activism
Update on Other Special Situations
Announced M&A
C-Suite Sudden Departures
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Update on Developing M&A
Peraso (PRSO): Mobix Labs (MOBX) delivered an updated all-cash proposal where Peraso stockholders would receive $1.30 per share in cash. (Press Release)
ReNew Energy Global (RNW): A consortium led by Canada Pension Plan Investment Board and ReNew CEO Sumant Sinha submitted a revised non-binding proposal increasing the price per share to acquire ReNew to $8.15 per share, from the previous offer of $8 per share. (13D Filing)
Warner Bros. Discovery (WBD): Paramount Skydance (PSKY) chief David Ellison is in talks with major private equity firms to join his possible bid to buy Warner Bros. Discovery. (New York Post)
Rumors
Confluent (CFLT): Is exploring a sale after attracting acquisition interest. (Reuters)
Protagonist Therapeutics (PTGX): Johnson & Johnson (JNJ) is in talks to buy Protagonist Therapeutics. (WSJ)
SM Energy (SM): Civitas Resources (CIVI) is considering a merger with Permian Basin rival SM Energy. (Bloomberg)
Update on Shareholder Activism
Dayforce (DAY): T. Rowe Price issued an open letter outlining the reasons for its opposition to the proposed acquisition of Dayforce by Thoma Bravo. (13D Filing)
STAAR Surgical (STAA): Defender Capital opposed the proposed acquisition of STAAR by Alcon (ALC). (Press Release)
Update on Other Special Situations
ABB (ABBNY): ABB announced it has signed an agreement to divest its Robotics division to SoftBank Group for an enterprise value of $5.375 billion and not pursue its earlier intention to spin off the business as a separately listed company. The deal is expected to close in mid-to-late 2026, pending regulatory approvals. (Press Release)
Comcast (CMCSA): Goldman Sachs Group is in early talks with investors to assess interest in a roughly $2.1 billion leveraged loan supporting Comcast Corp.’s planned spinoff of Versant Media Group. (Bloomberg)
FedEx (FDX): FedEx announced that Marshall Witt will join FedEx Freight as Senior Vice President and Chief Financial Officer effective October 15. (Press Release)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value, Expected Closing
Financial Services
Comerica (CMA) / Fifth Third Bancorp (FITB) - $10.9 bn, Q1 2026 (Press Release, Merger Agreement)
Healthcare
Akero Therapeutics (AKRO) / Novo Nordisk (NVO) - $4.7 bn, End of 2025 (Press Release, Merger Agreement)
Industrials
Heidrick & Struggles International (HSII) / Advent International and Corvex Private Equity - $1.3 bn, Q1 2026 (Press Release, Merger Agreement)
Sudden Departures
“Sudden Departures” highlights executive exits announced with short notice, where the executive is expected to leave within 30 days.
Amcor (AMCR): Chief Financial Officer Michael Casamento resigns effective November 10, 2025. (Filing)
Cipher Mining (CIFR): Chief Financial Officer Edward Farrell retires effective October 14, 2025. (Filing)
The Campbell’s Company (CPB): Chief Financial Officer Carrie L. Anderson resigns effective October 20, 2025. (Filing)
Designer Brands (DBI): Chief Financial Officer and Chief Administrative Officer Jared A. Poff resigns effective October 31, 2025. (Filing)
Legacy Housing (LEGH): Chief Financial Officer Jeff Fiedelman resigns effective October 10, 2025. (Filing)
MSP Recovery (MSPR): General Counsel Alexandra Plasencia resigns effective October 17, 2025. (Filing)
NextDecade (NEXT): Chief Financial Officer Brent Wahl resigns effective October 20, 2025. (Filing)
Nuwellis (NUWE): Chief Financial Officer Robert B. Scott resigns effective October 24, 2025. (Filing)
PepsiCo (PEP): Chief Financial Officer Jamie Caulfield resigns effective November 10, 2025. (Filing)
Plug Power (PLUG): President Sanjay Shrestha resigns effective October 10, 2025. (Filing)
Verizon Communications (VZ): Chief Executive Officer Hans Vestberg resigns effective October 6, 2025. (Filing)
VSE Corp (VSEC): Chief Accounting Officer Tarang Sharma resigns effective October 31, 2025. (Filing)
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