The Special Situation Report #80: 9/17 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
Stratasys (SSYS) rejected a revised offer from 3D Systems (DDD) (Press Release)
Navios Maritime (NM) received an unsolicited buyout proposal (Press Release)
Rumors
Carlisle Cos. (CSL) rejected an informal approach to combine with Kingspan Group Plc (Bloomberg)
Update on Shareholder Activism
Azenta (AZTA) activist investor Politan Capital disclosed a 7.5% position in a 13D (Filing)
Logitech International (LOGI) may be an activist investor target according to reports (Seeking Alpha)
Shift4 Payments (FOUR) gained amid takeover speculation (Seeking Alpha)
Update on Other Special Situations
Discover Financial (DFS) reportedly exploring a sale of its student-loan business (Bloomberg)
International Game Technology’s (IGT) global gaming division reportedly draws interest from Apollo (APO) (Reuters)
Walt Disney (DIS) reportedly held talks about selling its ABC network and stations to broadcast group Nexstar Media (NXST) (Bloomberg)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Consumer & Retail
Hostess Brands (TWNK) / The J.M. Smucker Co. (SJM) – $5.6bn (Press Release, Presentation)
Financials
Avantax (AVTA) / Cetera Financial – $1.2bn (Press Release)
Industrials
PFSweb (PFSW) / GXO Logistics (GXO) – $142mm (Press Release)
WestRock (WRK) / Smurfit Kappa (SMFKY) – $20bn (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.