The Special Situation Report

Share this post

The Special Situation Report #34: 9/11 Roundup

www.thespecialsituationreport.com

The Special Situation Report #34: 9/11 Roundup

Summary of the Week in Special Situations

David Paolella
Sep 11, 2022
21
Share this post

The Special Situation Report #34: 9/11 Roundup

www.thespecialsituationreport.com

Table of Contents:

  1. Update on Developing M&A

  2. Update on Shareholder Activism

  3. Update on Other Special Situations

  4. Announced M&A


Update on Developing M&A

Strategic Alternatives & Ongoing Situations

  • 111, Inc. (YI) gained on the receipt of a takeover proposal from its co-founders (Press Release)

  • Argo Group (ARGO) provided an update on its strategic alternatives process, announced sale of its Lloyd’s Syndicate business (Press Release, Presentation)

  • Digital Media Solutions (DMS) gained on the receipt of a takeover proposal from management (Press Release)

  • PlayAGS (AGS) announced acquisition talks have been terminated (Press Release)

  • SPAR Group (SGRP) announced review of strategic alternatives (Press Release)

Rumors

  • Lyft (LYFT) gained on speculation of a takeover or activist (Seeking Alpha)

  • Shockwave Medical (SWAV) subject of takeover speculation (Seeking Alpha)


Update on Shareholder Activism

  • AMMO (POWW) placed Steven Urvan and Susan Lokey on administrative leave amid internal turmoil (Filing)

  • Atlas Corp (ATCO) shareholder Albright Capital to vote 'no' on $14.45/share takeover bid (Press Release)

  • Avalara (AVLR) sale to Vista Equity opposed by shareholder Altair (Press Release)

  • Cardinal Health (CAH) announced a cooperation agreement with Elliott, to pursue value creation measures (Press Release)

  • LifeVantage (LFVN) activist Sudbury Capital disclosed discussions with management in 13D (Filing)

  • Pasithea Therapeutics (KTTA) activist Camac Partners announced a successful request to call a special meeting (Press Release)

  • Turquoise Hill (TRQ) shareholder Pentwater weighs legal action over Rio Tinto (RIO) deal (Reuters)


Update on Other Special Situations

Spin-Offs

  • Walt Disney (DIS) responded to Third Point’s call for an ESPN spinoff (Deadline)

  • Xperi (XPER) announced the finalized details of its upcoming spin-off (Press Release)

Other

  • ADT (ADT) announced a partnership and investment from State Farm (Press Release)

  • CBL Properties (CBL) adopted a poison pill (Filing)

  • Kohl’s (KSS) has reached out to ~20 parties as they consider monetizing a portion of its real estate at GS retail conference (Twitter)


Announced M&A

Target / Acquirer – Transaction Enterprise Value

Energy & Natural Resources

  • Brigham Minerals (MNRL) / Sitio Royalties (STR) – $4.8bn (Press Release, Presentation)

Healthcare

  • Metacrine (MTCR) / Equilium (EQ) – $30mm (Press Release, Presentation)

  • Signify Health (SGFY) /CVS Health (CVS) – $8bn (Press Release, Presentation)

Technology, Media & Telecommunications

  • ChannelAdvisor (ECOM) / CommerceHub (Insight Partners) – $580mm (Press Release)


If you enjoyed reading this Report, please do me the huge favor of simply pressing the “Like” button.

Just reply to this email to get in touch, or follow me on Twitter.

Share this post

The Special Situation Report #34: 9/11 Roundup

www.thespecialsituationreport.com
Comments
TopNewCommunity

No posts

Ready for more?

© 2023 The Special Situation Report
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing