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
Strategic Alternatives & Ongoing Situations
Creative Realities (CREX) received a takeover proposal from 39% shareholder Pegasus Capital Advisors (Letter)
Entain (GMVHY) shares dropped as MGM Resorts (MGM) says it moved on from buyout plan (Reuters)
Life Storage (LSI) confirmed an unsolicited proposal from Public Storage (PSA) (Press Release, WSJ)
Newmont (NEM) confirmed it has submitted a proposal to combine with Newcrest Mining (ASX: NCM) (Press Release)
Rumors
Avrobio (AVRO) reportedly exploring a sale after an approach from Novartis (NVS) (Seeking Alpha)
Catalent (CTLT) reportedly draws takeover interest from Donaher (DHR) (Bloomberg)
Circor (CIR) reportedly kicked off a sales process (Seeking Alpha)
Criteo (CRTO) reportedly making a new attempt to sell itself (Reuters)
Freshpet (FRPT) gained amid takeover speculation by research analysts (Seeking Alpha)
Update on Shareholder Activism
AIG (AIG) investor Dan Loeb disclosed a stake in the insurer and discussed other stakes in Q4 letter (Seeking Alpha)
ON24 (ONTF) announced capital return and commented on Indaba’s letter (Press Release, Indaba letter)
Spotify (SPOT) gained on news that activist ValueAct Capital has taken a position in the company (Bloomberg)
Walt Disney (DIS) activist Nelson Peltz says proxy fight is over (WSJ)
Update on Other Special Situations
Spin-Offs
Fidelity National Information Services (FIS) reportedly pursuing a tax-free spin-off of its merchant business (Reuters)
Kellogg (K) scrapped plans to spin-off its plant-based meat business (Filing)
Labcorp (LH) expects to complete Clinical Development business spin-off by mid-year (Press Release)
Lionsgate (LGF) plan to separate Starz by the end of September remains on track (Hollywood Reporter)
Madison Square Garden Entertainment (MSGE) expects to complete Live Entertainment business spin-off by the end of March (Press Release)
Walt Disney (DIS) does not plan to spin off ESPN (CNBC)
Other
Fox Corp. (FOX) turned down unsolicited offers of more than $2 billion for its Tubi streaming service (Bloomberg)
Fresenius Medical Care (FMS) parent Fresenius SE may cede control over the company (Reuters)
J.M. Smucker (SJM) announced the $1.2bn sale of several pet food brands to Post Holdings (POST) (Press Release, Presentation)
Viatris (VTRS) soliciting bids for its European consumer-health assets (Bloomberg)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Financials
Argo Group (ARGO) / Brookfield Reinsurance (BNRE) – $1.1bn (Press Release)
Healthcare
Cardiovascular Systems (CSII) / Abbott Laboratories (ABT) – $890mm (Press Release)
NuVasive (NUVA) / Globus Medical (GMED) – $3.1bn (Press Release, Presentation)
Oak Street Health (OSH) / CVS Health (CVS) – $10.6bn (Press Release)
Technology, Media & Telecommunications
Sumo Logic (SUMO) / Francisco Partners – $1.7bn (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.