The Special Situation Report #43: 11/13 Roundup
The Special Situation Report #43: 11/13 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
Rumors
ACI Worldwide (ACIW) subject of takeover speculation (Seeking Alpha)
CoreCard (CCRD) reportedly drew takeover interest from Goldman Sachs (GS) (WSJ)
Ibex Holdings Ltd. (IBEX) is attracting takeover interest from private equity suitors including CVC Capital (Bloomberg)
Lee Enterprises (LEE) potential suitor Alden Global Capital has abandoned its bid for now (Axios)
Radius Global (RADI) gained on reports of takeover interest (Seeking Alpha)
Update on Shareholder Activism
AMMO (POWW) announced a settlement agreement with Steven Urvan and Susan Lokey (Press Release)
Magnite (MGNI) 5% shareholder Edenbrook Capital engages in discussions with the company (Filing)
Update on Other Special Situations
Spin-Offs
Madison Square Garden Entertainment (MSGE) submitted the initial registration for the potential spin-off of its traditional live entertainment and MSG Networks business (Press Release)
Other
Crown Holdings (CCK) adopted a poison pill amid Carl Icahn stake news (Press Release)
Lordstown Motors (RIDE) received a ~$170mm investment from Foxconn (Press Release)
RumbleON (RMBL) announced decision to explore strategic alternatives for its automotive business (Filing)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Energy & Natural Resources
Maverix Metals (MMX) / Triple Flag Precious Metals (TFPM) – $606 million (Press Release, Presentation)
Yamana Gold (AUY) / Pan American Silver (PAAS) & Agnico Eagle (AEM) – $4.8bn (Press Release)
Healthcare
Oyster Point Pharma (OYST) / Viatris (VTRS) – $450mm (Press Release, Presentation)
Industrials
IAA (IAA) / Ritchie Bros. Auctioneers (RBA) – $7.3bn (Press Release, Presentation)
Velodyne Lidar (VLDR) / Ouster (OUST) – $210mm (Press Release, Presentation)
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Nothing in this article should be construed as investment advice. The content herein is informational and should not be relied upon as fact. Do your own diligence before making any investment decisions.