The Special Situation Report

Share this post

The Special Situation Report #50: 1/15 Roundup

www.thespecialsituationreport.com

The Special Situation Report #50: 1/15 Roundup

Summary of the Week in Special Situations

David Paolella
Jan 15
30
1
Share this post

The Special Situation Report #50: 1/15 Roundup

www.thespecialsituationreport.com

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

  • NI (NATI) initiated a strategic review process (Press Release)

  • Purple Innovation (PRPL) rejected a takeover offer from Coliseum Capital Management (Press Release)

  • World Wrestling Entertainment (WWE) engaged advisors for review of strategic alternatives (Press Release)

Rumors

  • Argo Group (ARGO) ongoing sale process reportedly includes Arch Capital (ACGL) (Inside P&C)

  • Astec Industries (ASTE) could be a takeover target after CEO departure (Seeking Alpha)

  • Conn's (CONN) gained on a report that Franchise Group (FRG) may be considering a takeover (WSJ)

  • Denbury (DEN) gains amid renewed Exxon (XOM) takeover speculation (Seeking Alpha)

  • Franchise Group (FRG) reportedly evaluating a management buyout (WSJ)

  • Liberty Braves Group (BATRA) speculated as a takeover target by Mario Gabelli (Seeking Alpha)

  • MarkForged (MKFG) suggested as a possible takeover target (3Dprint)

  • Oak Street Health (OSH) gained on reports of takeover interest from CVS Health (CVS) (Bloomberg)

  • Rite Aid (RAD) CEO departure sparks renewed takeover speculation (Seeking Alpha)

  • Univar Solutions (UNVR) reportedly draws interest from Apollo (APO) and Platinum Equity (Bloomberg)


Update on Shareholder Activism

  • Bayer (BAYRY) activist Bluebell Capital Partners is pressuring for a breakup of the company (Reuters)

  • Okta (OKTA) rumored to be a target for activist investors (Seeking Alpha)

  • PPL Corp. (PPL) investor Elliott Management reportedly built a sizable position in the company (Bloomberg)

  • Venator (VNTR) activist J&T pushing for board, governance changes (Letter, Response)

  • Veris Residential (VRE) shareholder Madison International met with the company to discuss potential board representation (Filing)

  • Walt Disney (DIS) activist Nelson Peltz launched a proxy fight at the company (Filing, Presentation)


Update on Other Special Situations

Spin-Offs

  • Madison Square Garden Entertainment (MSGE) confidentially filed an amended Form 10 registration statement for proposed spin-off of its Live Entertainment business (Press Release)

Other

  • Compass Diversified (CODI) announced the sale of Advanced Circuits to APCT (Press Release)

  • Kirby Corporation (KEX) concluded its review of alternatives for its Distribution and Services business without a sale or spin-off (Press Release)


Announced M&A

Target / Acquirer – Transaction Enterprise Value

Financials

  • Paya Holdings (PAYA) / Nuvei (NVEI) – $1.3bn (Press Release, Presentation)

Healthcare

  • Albireo (ALBO) / Ipsen (IPSEY) – $1bn (Press Release)

  • Amryt Pharma (AMYT) / Chiesi Farmaceutici – $1.3bn (Press Release)

  • CinCor Pharma (CINC) / AstraZeneca (AZN) – $1.3bn (Press Release)

Technology, Media & Telecommunications

  • Duck Creek Technologies (DCT) / Vista Equity Partners – $2.6bn (Press Release)


If you enjoyed reading this Report, please do me the huge favor of simply pressing the “Like” button.

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

1
Share this post

The Special Situation Report #50: 1/15 Roundup

www.thespecialsituationreport.com
1 Comment
Six Bravo
Writes Special Situation Investing
Jan 20Liked by David Paolella

Thanks for the update!

Expand full comment
ReplyCollapse
TopNewCommunity

No posts

Ready for more?

© 2023 The Special Situation Report
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing