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
Array Digital Infrastructure (AD): Telephone and Data Systems (TDS) announced that it is no longer pursuing the acquisition of Array Digital Infrastructure and has withdrawn its proposal. (Press Release)
Aurora Cannabis (ACB): Urged shareholders to reject the unsolicited takeover bid from Curaleaf Holdings (CURLF), warning that the hostile bid would put Aurora shareholders’ value and future upside at risk. (Press Release)
GoPro (GPRO): Entered into a merger agreement with Starman Optical. (Press Release)
T-Mobile US (TMUS): Elliott Investment Management has built a sizeable stake in Deutsche Telekom and indicated the German telecommunications giant should ditch a potential merger with its American arm T-Mobile US. (Bloomberg)
Varonis Systems (VRNS): Thoma Bravo-backed Proofpoint is in talks to acquire cybersecurity company Varonis Systems. (Bloomberg)
Rumors
Definitive Healthcare (DH): Advent International submitted a non-binding offer to buy all remaining shares and related ownership interests that are not already owned by Advent and founder Jason Krantz. (Letter)
To access all rumors, a history of updates and the eventual outcomes, check out our Deals in the Works tool that includes data on over 9 years of developing M&A situations:
Update on Shareholder Activism
Dynatrace (DT): Pictet Asset Management increased its stake in Dynatrace to 5% from 4.5%. (13D Filing)
Empery Digital (EMPD): ATG Capital Management announced that on August 28, the Delaware Court of Chancery issued a decision regarding the lawsuit filed by ATG Fund against Empery Digital’s Board. (13D Filing)
EPAM Systems (EPAM): Activist hedge fund Engine Capital is pushing for technology consultancy group EPAM Systems to boost share buybacks or consider putting itself up for sale. (Press Release)
Seer (SEER): Bradley Radoff and Michael Torok requested that director Meeta Gulyani immediately resign from the Board. (Open Letter)
Starfighters Space (FJET): Founder and former CEO Richard William Svetkoff revealed a 23.85% position in Starfighters Space for the purpose of a business combination and acquisition. (13D Filing)
Our comprehensive Activists Tool includes current activist campaigns and all updates as the campaigns unfold: https://www.insidearbitrage.com/shareholder-activists-tool
Update on Other Special Situations
Corteva (CTVA): Vylor issued $1.1 billion of senior notes to support Corteva’s planned separation of its seed business. Proceeds will primarily fund a cash distribution to EIDP as partial consideration for transferring the seed business to Vylor. The notes must be redeemed at 101% of principal if the separation is not completed. (Filing)
Vylor, which is set to spin off from Corteva on October 1, launched Vylor Edge, an agricultural technology investment platform that will take over investments and partnerships previously held by Corteva Catalyst. (Press Release)
Flex (FLEX): Flex shared an update on its planned spin-off of the Cloud and Power Infrastructure (CPI) business into a separate publicly traded company. Flex plans to seek shareholder approval through a Schedule 14A proxy statement, while the new company is expected to file a Form 10 with the SEC. (Filing)
Madison Square Garden Sports (MSGS): Madison Square Garden Sports filed an amended Form 10 for its planned tax-free spin-off of the New York Rangers into MSG Rangers Corp., with the remaining parent to be renamed MSG Knickerbockers Corp. (Filing)
You can view the full list of upcoming spinoffs including each update since the announcement of the spinoff in our Upcoming Spinoffs List.
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value, Expected Closing
For a second week in a row, no new mergers were announced.
Check out a list of nearly 80 active mergers & acquisitions in our Merger Arbitrage Tool. Includes the ability to track specific deals, email alerts for new deals, real-time spreads, annualized returns, all merger updates and spread history charts.
Sudden Departures
“Sudden Departures” highlights executive exits announced with short notice, where the executive is expected to leave within 30 days.
Advasa (ADBT): Chief Financial Officer Katharyn Field resigns effective August 27, 2026. (Filing)
Amrize (AMRZ): Chief Accounting Officer Richard Hoffman resigns effective September 1, 2026. (Filing)
Bally’s Corporation (BALY): Chief Financial Officer Mira Mircheva resigns effective September 4, 2026. (Filing)
BlackRock TCP Capital (TCPC): Chief Executive Officer and Co-Chief Investment Officer Philip Tseng resigns effective August 31, 2026. (Filing)
iSpecimen (ISPC): Chief Executive Officer Katharyn Field resigns effective August 26, 2026. (Filing)
Nixxy (NIXX): Chief Financial Officer MeiLin Yu terminated effective September 1, 2026. (Filing)
SmartKem (SMTK): Chief Operating Officer Jonathan Watkins resigns effective August 31, 2026. (Filing)
The Hershey Company (HSY): Chief Financial Officer Steven E. Voskuil resigns effective September 2, 2026. (Filing)
Our C-Suite Transitions tool includes over 10,000 management changes including appointments, departures and sudden departures.
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The content herein is informational and should not be relied upon as fact. We do not warrant the completeness or accuracy of the content or data provided in this article. Do your own diligence before making any investment decisions.