The Special Situation Report #41: 10/30 Roundup
Summary of the Week in Special Situations
Table of Contents:
Update on Developing M&A
Update on Shareholder Activism
Update on Other Special Situations
Announced M&A
Update on Developing M&A
Strategic Alternatives & Ongoing Situations
AgroFresh Solutions (AGFS) announced a proposed transaction with Pain Schwartz (Filing)
Weber (WEBR) received an unsolicited takeover proposal from BDT Capital (Press Release)
Rumors
Aerojet Rocketdyne (AJRD) reportedly soliciting offers (Reuters)
Update on Shareholder Activism
Barnwell Industries (BRN) activist MRMP-Managers announced proxy contest for full board control (Filing)
ClearBridge MLP and Midstream (CEM) activist Saba Capital Management submitted intent to nominate candidates to the board (Filing)
Global Net Lease (GNL) activist Blackwells launched a proxy campaign, called for governance overhaul (Filing)
Monro (MNRO) considering governance reforms after pressure by activist Ides Capital (Reuters)
The Necessity Retail REIT (RTL) activist Blackwells launched a proxy battle (Filing)
Turtle Beach (HEAR) appointed Terry Jimenez to the board pursuant to earlier agreement with Donerail (Filing)
Unilever (UL) activist Peltz said to meet with potential CEO candidates (Reuters)
Update on Other Special Situations
Spin-Offs
Medtronic (MDT) announced its intent to spin-off its patient monitoring and respiratory interventions businesses (Press Release, Presentation)
Other
Aegon (AEG) announced deal to combine Dutch operations with a.s.r. (Press Release)
Comcast (CMCSA) reportedly mulls sale of Sky Deutschland (Bloomberg)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Financials
Limestone Bancorp (LMST) / Peoples Bancorp (PEBO) – $208mm (Press Release)
Healthcare
Myovant Sciences (MYOV) / Sumitomo Biopharma – $1.7bn (Press Release)
Industrials
Altra Industrial Motion (AIMC) / Regal Rexnord (RRX) – $5bn (Press Release)
Technology, Media & Telecommunications
UserTesting (USER) / Thoma Bravo & Sunstone Partners – $1.3bn (Press Release)
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