The Special Situation Report #89: 11/26 Roundup

Summary of the Week in Special Situations

Table of Contents:

1. Update on Developing M&A

2. Update on Shareholder Activism

3. Update on Other Special Situations

4. Announced M&A

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Update on Developing M&A

Strategic Alternatives & Ongoing Situations

• FiscalNote (NOTE) established a special committee and retained a financial advisor to evaluate a potential takeover offer from its CEO (Press Release)

• HireRight Holdings (HRT) shareholders General Atlantic and Trident filed a joint bidding agreement to potentially submit a non-binding proposal to acquire the rest of the company (Filing)

• Hollysys Automation (HOLI) provided an update on its ongoing sales process (Press Release)

• Vista Outdoor (VSTO) received an unsolicited combination proposal from Colt CZ Group (Letter)

• Wyndham Hotels & Resorts (WH) responded to a revised takeover proposal from Choice Hotels International (CHH) (Press Release)

Rumors

• Criteo (CRTO) offered as an attractive acquisition target (Seeking Alpha)

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Update on Shareholder Activism

• Crown Castle (CCI) activist investor Elliott Investment Management has reportedly taken a large stake and is expected to push for change at the company (WSJ)

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Update on Other Special Situations

Spin-Offs

• Jacobs Solutions (J) announced plans to spin-off and merge its Critical Mission Solutions and Cyber & Intelligence Government Services businesses with Amentum (Press Release)

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Announced M&A

Healthcare

• Freeline Therapeutics (FRLN) / Syncona – $28mm (Press Release)

Technology, Media & Telecommunications

• iClick Interactive Asia Group (ICLK) / Investor Consortium – $40mm (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.