The Special Situation Report #74: 8/6 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
United States Cellular (USM) and its parent Telephone and Data Systems (TDS) to explore strategic alternatives for US Cellular (Press Release)
Rumors
Avid Technology (AVID) gained amid a report that private equity firms are interested in the software firm (Reuters)
HomeStreet (HMST) reportedly considering its options including a potential sale (Bloomberg); HomeStreet shareholder Blue Lion Capital said the bank should immediately proceed with the sale of its FNMA DUS license (Letter)
Update on Shareholder Activism
American Eagle Outfitters (AEO) gained amid speculation of potential activist involvement after a 13F filing (Seeking Alpha)
Diversified Healthcare Trust (DHC) shareholder Flat Footed LLC released a presentation highlighting the case against the proposed Office Properties Income Trust (OPI) merger (Presentation)
Update on Other Special Situations
Spin-Offs
SharkNinja (SN) completed its spin-off from JS Global Lifestyle Company (SEHK:1691) (Press Release, Prospectus)
Other
Hasbro (HAS) to sell its eOne film and TV business to Lionsgate for $500mm (Press Release)
Mativ (MATV) announced the sale of its Engineered Papers business for $620mm (Press Release)
Paramount Global (PARA) reportedly in advanced talks with KKR (KKR) to sell Simon & Schuster for $1.6bn (WSJ)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Financials
First Sound Bank (FSWA) / Harborstone Credit Union (Press Release)
Healthcare
EQRx (EQRX) / Revolution Medicines (RVMD) – $1bn (Press Release)
Technology, Media & Telecommunications
New Relic (NEWR) / Francisco Partners & TPG – $6bn (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.