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The Special Situation Report #53: 2/5 Roundup

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The Special Situation Report #53: 2/5 Roundup

Summary of the Week in Special Situations

David Paolella
Feb 5
23
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The Special Situation Report #53: 2/5 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

  • Focus Financial Partners (FOCS) announced an acquisition proposal and exclusivity arrangement with CD&R (Press Release)

  • Magenta Therapeutics (MGTA) to explore strategic alternatives (Press Release)

  • Mercury Systems (MRCY) gained on review of strategic alternatives (Press Release), interest from Cobham (Bloomberg)

  • Veris Residential (VRE) Kushner Cos. reiterated $18.50 / share offer (Press Release)

  • World Wrestling Entertainment (WWE) CEO says the company's sales process may last about three months and founder McMahon is open to exiting (CNBC)

Rumors

  • Cvent (CVT) reportedly exploring a sale (WSJ)

  • Qualtrics (XM) 4% shareholder Silver Lake reportedly mulls a buyout (Bloomberg)

  • Rapid7 (RPD) reportedly hired advisors to explore a sale (Reuters)


Update on Shareholder Activism

  • Amarin (AMRN) and activist Sarissa Capital filed opposing literature in ongoing proxy battle (Company, Sarissa)

  • Green Plains (GPRE) activist investor Ancora Holdings urged the company to explore a sale (Letter)

  • First Foundation (FFWM) commented on actions by activist Driver Management (Press Release)

  • Kohl's (KSS) announced a cooperation agreement with Macellum (Press Release)

  • Nano Dimension (NNDM) shareholder Murchinson Ltd. issued a letter regarding the need for boardroom change (Letter)

  • Ritchie Bros. Auctioneers (RBA) investor Janus Henderson announced opposition to bid for IAA (IAA) (Reuters)

  • Rogers (ROG) activist investor Starboard said to build stake (Reuters)

  • The Walt Disney Company (DIS) sent a letter to shareholders regarding Peltz’s proxy contest (Letter)


Update on Other Special Situations

  • FirstEnergy (FE) announced sale of an additional 30% stake in its transmission unit to an affiliate of investment firm Brookfield Asset Management for $3.5bn (Press Release)

  • Western Digital (WDC) announced a $900mm investment from Apollo (APO), Elliott (Press Release)


Announced M&A

Target / Acquirer – Transaction Enterprise Value

Energy & Natural Resources

  • Sisecam Resources (SIRE) / Sisecam Chemicals – $630mm (Press Release)

Healthcare

  • AlerisLife (ALR) / ABP Acquisition – $30mm (Press Release)

  • Chembio Diagnostics (CEMI) / Biosynex – $17mm (Press Release)

Industrials

  • Atlas Technical Consultants (ATCX) / GI Partners – $1.1bn (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.

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The Special Situation Report #53: 2/5 Roundup

www.thespecialsituationreport.com
1 Comment
Six Bravo
Writes Special Situation Investing
Feb 14

Thanks for this report! The Sisecam Resources sale was prompted our research into NRP.

https://specialsituationinvesting.substack.com/p/a-coal-royalty-company-natural-resource#details

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