Strategic Alternatives & Ongoing Situations

Veris Residential (VRE) rejected increased Kushner offer; open to constructive dialogue (Press Release)

Rumors

BioCryst (BCRX) strategic interest could rise after oral Factor D inhibitor decision (Seeking Alpha)

Crown Holdings (CCK) announced an agreement with Icahn to increase the size of its board (Press Release)
DigitalBridge (DBRG) activist Legion Partners wants the company to consider a sale if shares fail to re-rate (Bloomberg)
Fidelity National (FIS) announced a strategic review to strengthen performance; names independent chairman amid D.E. Shaw & Jana pressure (Press Release)
Freshpet (FRPT) activist Jana Partners informed the company it plans to run for board seats in 2023 (Filing)
Matthews International (MATW) activist Barington Capital is pushing for changes (Bloomberg)
Pitney Bowes (PBI) activist Hestia Capital announced intent to overhaul board of directors (Press Release)
Rent-A-Center (RCII) activist Engaged Capital reports 6.5% stake (Filing)

Spin-Offs

Other

Medtronic (MDT) spin-off units eyed by Siemens and GE Healthcare (Bloomberg)
VF Corp (VFC) considering a sale of backpack maker Jansport (Bloomberg)

Target / Acquirer – Transaction Enterprise Value

Consumer / Retail

Financials

Malvern Bancorp (MLVF) / First Bank (FRBA) – $150mm (Press Release, Presentation)
PSB Holding (PSBP) / Summit Financial Group (SMMF) – $54mm (Press Release, Presentation)
The Community Financial (TCFC) / Shore Bancshares (SHBI) – $254mm (Press Release, Presentation)
Trean Insurance (TIG) / Altaris Capital Partners – $316mm (Press Release)

Healthcare

Horizon Therapeutics (HZNP) / Amgen (AMGN) – $28bn (Press Release, Presentation)

Industrials

Technology, Media & Telecommunications

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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.

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