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

• American Equity Investment Life (AEL) Prosperity Group Holdings withdrew its acquisition proposal (Press Release)

• Aileron Therapeutics (ALRN) announced exploration of strategic alternatives (Press Release)

• Evofem Biosciences (EVFM) to explore and evaluate strategic alternatives (Press Release)

• Graphite Bio (GRPH) to explore strategic alternatives (Press Release)

Rumors

• Cvent (CVT) reportedly rejected a $3.9bn offer from Blackstone (BX) (Reuters)

• LivaNova (LIVN) gained amid takeover speculation (Seeking Alpha)

• National Instruments (NATI) potential suitor Honeywell (HON) no longer interested in bidding for the company according to reports (Seeking Alpha)

• Pioneer Natural Resources (PXD) reportedly considering an acquisition of Range Resources (RRC) (Bloomberg); Pioneer Natural said it's not contemplating a significant acquisition transaction (Press Release)

Update on Shareholder Activism

• Anika Therapeutics (ANIK) Caligan Partners urging company to explore strategic alternatives (Reuters)

• Bath & Body Works (BBWI) 6% shareholder Third Point announced a proxy contest (Letter, Response)

• Global Net Lease (GNL) and The Necessity Retail REIT (RTL) activist Blackwells Capital launched a website and presentation to shareholders (Press Release)

• Heron Therapeutics (HRTX) entered into a cooperation agreement with Rubric Capital Management (Press Release)

• Purple Innovation (PRPL) 44% shareholder Coliseum Capital Partners filed a lawsuit against the company (Press Release)

• ReWalk Robotics Ltd. (RWLK) 15% shareholder The Lind Partners sent letter to the board regarding its concerns (Letter)

Update on Other Special Situations

Spin-Offs

• Teck Resources (TECK) announced spin-off of its steelmaking coal business (Press Release, Presentation)

Other

• AT&T (T) reportedly exploring a sale of its cybersecurity unit (Reuters)

• Haleon (HLN) reportedly exploring sale of ChapStick Brand (Bloomberg)

• News Corporation (NWS) no longer in talks to sell Move, Inc to CoStar Group (CSGP) (Press Release)

Announced M&A

Target / Acquirer – Transaction Enterprise Value

Financials

• Main Street Financial Services (MSWV) / Wayne Savings Bancshares (WAYN) – $68mm (Press Release)

• Partners Bancorp (PTRS) / LINKBANCORP (LNKB) – $168mm (Press Release)

Real Estate

• Indus Realty Trust (INDT) / Centerbridge Partners & GIC Real Estate – $868mm (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.