The Special Situation Report #83: 10/15 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
Sculptor Capital (SCU) merger agreement with Rithm Capital (RITM) bumped to $12 per share (Press Release)
Sharecare (SHCR) confirms receipt of unsolicited proposal from Claritas Capital (Press Release)
Rumors
Occidental Petroleum (OXY) reportedly drew interest from Chevron (CVX) earlier this year, although interest has since waned (WSJ)
PGT Innovations (PGTI) reportedly rejected a $33 per share cash bid from rival Miter Brands (Reuters)
Update on Shareholder Activism
News Corp. (NWS) reportedly draws interest from activist hedge fund Starboard Value (Reuters)
Terran Orbital (LLAP) investor group calling for CEO to resign and for strategic review process (Press Release)
Update on Other Special Situations
Spin-Offs
NCR Corporation (NCR) announced the boards of directors for its spin-off entities (Press Release)
Other
Truist Financial (TFC) reportedly in talks to sell its insurance business for $10bn (Press Release)
Announced M&A
Target / Acquirer – Transaction Enterprise Value
Energy & Natural Resources
Pioneer Natural Resources (PXD) / Exxon Mobil (XOM) – $60bn (Press Release, Presentation)
Financials
Community West Bancshares (CWBC) / Central Valley Community Bancorp (CVCY) – $100mm (Press Release, Presentation)
National Western Life (NWLI) / Prosperity Life Group – $1.9bn (Press Release)
Healthcare
Genetron Holdings (GTH) / Investor Consortium – $135mm (Press Release)
Mirati Therapeutics (MRTX) / Bristol Myers Squibb (BMY) – $3.7bn (Press Release, Presentation)
Industrials
P&F Industries (PFIN) / ShoreView Industries – $46mm (Press Release)
Technology, Media & Telecommunications
MiX Telematics (MIXT) / PowerFleet (PWFL) – (Press Release, Presentation)
Startek (SRT) / Capital Square Partners – $217mm (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.