The Special Situation Report #39: 10/16 Roundup

Summary of the Week in Special Situations

Table of Contents:

1. Update on Developing M&A

2. Update on Shareholder Activism

3. Update on Other Special Situations

4. Announced M&A

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Update on Developing M&A

Strategic Alternatives & Ongoing Situations

• Bassett Furniture (BSET) rejected a takeover proposal from CSC Generation Holdings (Press Release)

• News Corp (NWS) formed a special committee to explore a potential combination with Fox Corporation (FOX) (Press Release)

• Peabody Energy (BTU) in talks to merge with Australia’s Coronado (ASX: CRN) (Press Release)

Rumors

• Bio-Rad Laboratories (BIO) is in talks to combine with Qiagen (QGEN) (WSJ)

• Denbury (DEN) draws takeover interest from Exxon Mobil (XOM) (Bloomberg)

• Nutanix (NTNX) reportedly exploring a sale after receiving takeover interest (WSJ)

• Weber (WEBR) reportedly approached regarding a takeover; considering a debt financing deal with its largest shareholder (Bloomberg)

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Update on Shareholder Activism

• Amarin (AMRN) activist Sarissa started the process for a special meeting to replace certain board members (Press Release)

• Kohl's (KSS) activist Macellum renews push for board shakeup (WSJ)

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Update on Other Special Situations

Spin-Offs

• GE (GE) filed the Form 10 Registration Statement for the planned spin-off of GE HealthCare (Press Release)

• XPO’s (XPO) board approved the spin-off of its brokerage business; trading expected to begin on October 27 (Press Release)

Other

• Brookfield Business Partners (BBU) to sell Westinghouse to Cameco (CCJ), Brookfield Renewable Partners (BEP) for $8bn (Press Release)

• Dish Network (DISH) in talks to sell Boost Mobile to SPAC CONX Corp. (CONX) (Filing)

• Medical Properties Trust (MPW) exploring a sale of its Healthscope properties in Australia (Seeking Alpha)

• Viatris (VTRS) reportedly considering a sale of its European OTC assets (Bloomberg)

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Announced M&A

Target / Acquirer – Transaction Enterprise Value

Consumer / Retail

• Albertsons (ACI) / Kroger (KR) – $25bn (Press Release, Presentation)

Healthcare

• SeaSpine (SPNE) / Orthofix (OFIX) (Press Release, Presentation)

Industrials

• Grindrod Shipping (GRIN) / Taylor Maritime – $550mm (Press Release)

Technology, Media & Telecommunications

• KnowBe4 (KNBE) / Vista Equity Partners – $4.3bn (Press Release)

• ForgeRock (FORG) / Thoma Bravo – $2.3bn (Press Release)

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