The Special Situation Report #58: 3/12 Roundup
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The Special Situation Report #58: 3/12 Roundup
Summary of the Week in Special Situations
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
Digital Media Solutions (DMS) concludes strategic review process (Press Release)
DXC Technology (DXC) sale talks with potential buyer end without a deal (Press Release)
Fresh Tracks Therapeutics (FRTX) evaluating strategic options (Press Release)
Guardion Health Sciences (GHSI) to explore strategic alternatives (Press Release)
Neoleukin Therapeutics (NLTX) to review strategic alternatives (Press Releas)
Qualtrics (XM) entered exclusive sale talks with Silver Lake (Press Release)
Stratasys (SSYS) received an unsolicited proposal from Nano Dimension (NNDM) (Press Release); NNDM shareholder Anson Funds released a letter in opposition of deal and NNDM governance (Letter)
Rumors
Molson Coors (TAP) gained amid takeover speculation (Seeking Alpha)
Quotient Technology (QUOT) reportedly working with bank to explore sale (Reuters)
Seagen (SGEN) report that Pfizer (PFE) is the only interested bidder (Seeking Alpha)
Update on Shareholder Activism
Amarin (AMRN) all seven independent non-Sarissa members resigned from board of directors (Press Release)
Bath & Body Works (BBWI) announced appointment of new director in détente with Third Point (Press Release)
Comscore (SCOR) activist 180 Degree Capital Corp issued public letter to stockholders (Letter)
loanDepot (LDI) Anthony Hsieh reminds board to concentrate on company's long-term success (Press Release)
Masimo Corporation (MASI) California State Teachers’ Retirement System joins Politan Capital in legal fight (Reuters)
ON24 (ONTF) activist Kinesic Capital proposes a value creation plan to board of directors (Letter)
Pitney Bowes (PBI) activist Hestia Capital Management modified slate to include five nominees (Filing)
Primo Water Corp. (PRMW) activist investor Legion Partners nominated four directors for the company's board (Filing)
RumbleON (RMBL) William Coulter and Mark Tkach send letter to the board (Letter)
Sensei Biotherapeutics (SNSE) confirmed the receipt of nominations from Apeiron Investment Group (Press Release)
Update on Other Special Situations
Spin-Offs
Uber Technologies (UBER) reportedly exploring a spin-off of its Uber Freight logistics arm (Bloomberg)
Other
BioXcel Therapeutics (BTAI) evaluating strategic options for OnkosXcel subsidiary (Press Release)
DigitalBridge (DBRG) reportedly weighing the sale of a stake in Vantage Data Centers (Bloomberg)
ReNew Energy Global (RNW) CPPIB set to become majority stakeholder after deal with Goldman (Mint)
Vistra Corp. (VST) to acquire Energy Harbor in multi-billion deal (Press Release)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Healthcare
Tcr2 Therapeutics (TCRR) / Adaptimmune (ADAP) – $165mm (Press Release, Presentation)
Industrials
Diversey Holdings (DSEY) / Solenis (Platinum Equity) – $4.6bn (Press Release)
Kimball International (KBAL) / HNI Corporation (HNI) – $485mm (Press Release, Presentation)
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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.