The Special Situation Report

Share this post

The Special Situation Report #64: 4/30 Roundup

www.thespecialsituationreport.com

The Special Situation Report #64: 4/30 Roundup

Summary of the Week in Special Situations

David Paolella
Apr 30, 2023
21
Share

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

  • Cerevel Therapeutics (CERE) shareholder Perceptive Advisors ended preliminary discussions regarding a potential strategic transaction (Filing)

  • Heliogen (HLGN) rejected an unsolicited takeover proposal from Continuum Renewables (Press Release)

  • Teck (TECK) withdrew its plan to separate hours before shareholders were due to vote (Press Release)

  • TravelCenter (TA) rejected Arko’s (ARKO) takeover offer as inferior compared to BP’s (BP) $86/share offer (Press Release)

Rumors

  • Catalent (CTLT) gained on speculation that Danaher (DHR) may still be interested in a takeover (Seeking Alpha)

  • RealReal (REAL) reportedly draws interest from private equity (Puck News)


Update on Shareholder Activism

  • Algonquin Power (AQN) activist investor Corvex Management has built a stake in the company and is pushing for changes (Reuters)

  • Pitney Bowes (PBI) Institutional Shareholder Services recommended that shareholders elect four of the five dissident director candidates proposed by Hestia Capital (Press Release)


Update on Other Special Situations

  • Cardinal Health’s (CAH) nuclear medicine business draws interest from Curium Pharma, HIG Capital (Bloomberg)

  • Carrier Global (CARR) announced a deal to buy Viessmann Climate Solutions for $13bn (Press Release)

  • Casella Waste Systems (CWST) agreed to acquire certain assets from GFL Environmental (GFL) for $525mm (Press Release)

  • Endeavor Group (EDR) announced the sale of IMG Academy for $1.3bn (Press Release)


Announced M&A

Target / Acquirer – Transaction Enterprise Value

Healthcare

  • Spectrum Pharmaceuticals (SPPI) / Assertio (ASRT) – $250mm (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.

21
Share
Comments
Top
New
Community

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