The Special Situation Report #88: 11/19 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
LL Flooring Holdings’ (LL) 9% shareholder F9 Investments disclosed $3.00 / share offer for company; given deterioration of LL business and refusal of due diligence, it intends to nominate three directors (Letter)
Teck Resources (TECK) announced the sale of its steelmaking coal business to Glencore and Nippon Steel for $9bn (Press Release, Presentation)
Yandex (YNDX) reportedly plans to sell its entire Russian business (Reuters)
Rumors
James Hardie Industries (JHX) reportedly draws interest from private equity (Seeking Alpha)
Update on Shareholder Activism
Expedia (EXPE) gained amid a report that activist investor ValueAct Capital has accumulated a stake in the company (Reuters)
Walt Disney (DIS) activist investor ValueAct has taken a stake in the company and is in dialogue with management (CNBC)
Update on Other Special Situations
Spin-Offs
Sanofi (SNY) reportedly working with an adviser to prepare for a separation of its consumer health business (Bloomberg)
Other
QuidelOrtho (QDEL) reportedly considering a sale of its transfusion medicine business, which may be valued at $1.5bn to $2bn (Bloomberg)
Announced M&A
No announced M&A transactions this week.
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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.