The Special Situation Report #38: 10/9 Roundup

Oct 09, 2022

Strategic Alternatives & Ongoing Situations

Atlas (ATCO) confirmed ‘meaningful progress’ in deal talks with potential buyer (Press Release)
DXC Technology (DXC) confirmed it has received a takeover approach, although no formal offer has been made (Press Release)
Myovant Sciences (MYOV) rejected a takeover proposal from Sumitomo Pharma for $22.75 cash per share (Press Release)
PureTech Health (PRTC) confirmed it received a takeover proposal from Nektar Therapeutics (Filing)
Sculptor Capital (SCU) founder and shareholder Dan Och says the company has M&A interest (Filing)

Rumors

Berry Corp. (BRY) reportedly exploring a sale (Reuters)
Brookdale Senior Living (BKD) reportedly exploring options including a potential sale (Bloomberg)
Cano Health (CANO) is in exclusive sale talks with CVS Health (CVS) (Bloomberg)
Compass (COMP) denied a report of takeover interest from a private equity firm (Bloomberg)

Adobe (ADBE) subject of activist speculation (Seeking Alpha)
Alkermes (ALKS) shareholder Sarissa Capital says CEO Richard Pops is an impediment to shareholder value; Sarissa may look to increase its stake (Filing)
SciPlay (SCPL) activist Engine Capital pushes for a sale to parent Light & Wonder (LNW) (Letter)

Con Edison (ED) to sell its renewable energy businesses to RWE for $6.8bn (Press Release)
Emerson Electric (EMR) in talks to sell assets to Blackstone (BX) (Bloomberg)
Hallmark Financial Services (HALL) reportedly in talks to sell its specialty book (Seeking Alpha)
Peloton (PTON) is exploring a sale of its Precor commercial fitness equipment business (WSJ)
Viasat (VSAT) sold its Link 16 Tactical Data Links business to L3Harris Technologies (LHX) for $2bn (Press Release)

Target / Acquirer – Transaction Enterprise Value

Consumer / Retail

Healthcare

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.

The Special Situation Report