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

• ForgeRock (FORG) gained after disclosing another potential bidder (Seeking Alpha)

• News Corp (NWS) and Fox’s (FOX) respective special committees provided updates to investors (News Corp, Fox)

• Partners Bancorp (PTRS) announced a review of all strategic alternatives (Filing)

Rumors

• GreenLight Biosciences (GRNA) reportedly subject of takeover approaches (Seeking Alpha)

• MBIA (MBI) gained on speculation of takeover talks with rivals (Seeking Alpha)

• Vince Holding (VNCE) reportedly exploring its options including a sale (Bloomberg)

Update on Shareholder Activism

• American Equity Investment Life (AEL) shareholder Brookfield (BAMR) sent a letter to the company with questions regarding strategy (Letter, Bloomberg)

• Bath & Body Works (BBWI) activist Third Point disclosed 6% stake, seeks board changes (Filing)

• Coupa Software (COUP) shareholder HMI Capital sent a letter to the board reflecting concerns regarding a potential sale (Letter)

• EZCorp (EZPW) 4% shareholder David Kanen called for immediate suspension of convertible offering (Letter)

• Fresenius Medical Care's (FMC) CEO stepped down after two months as its parent pushes for change (Reuters)

• Freshpet (FRPT) activist Jana ratchets up pressure; recruits Schmidt to campaign (Reuters)

• Pinterest (PINS) announced a deal with activist Elliott; Steinberg to join board (Press Release)

• Trinity Biotech (TRIB) 30% shareholder MiCo IVD filed 13D in dispute with board of directors (Filing)

• WEX (WEX) 5% shareholder Impactive Capital engages in discussions the company (Filing)

Update on Other Special Situations

Spin-Offs

• BorgWarner (BWA) announced intent to spin-off its Fuel Systems and Aftermarket segments (Press Release, Presentation)

• Madison Square Garden Entertainment (MSGE) revised its venue spin-off plan (Press Release)

Other

• Unilever (UL) reportedly considering $3bn sale of ice cream brands (Bloomberg)

• Wolverine World Wide (WWW) announced a process to divest or license its Keds brand and Wolverine Leathers business (Press Release)

Announced M&A

Target / Acquirer – Transaction Enterprise Value

Consumer / Retail

• Vivint Smart Home (VVNT) / NRG Energy (NRG) – $5.2bn (Press Release, Presentation)

Financials

• Salisbury Bancorp (SAL) / NBT Bancorp (NBTB) – $204mm (Press Release)

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The content herein is informational and should not be relied upon as fact. Do your own diligence before making any investment decisions.