The Special Situation Report #91: 12/10 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
Five9 (FIVN) denied it was pursuing a sale transaction (Press Release)
Woodside Energy (WDS) and Santos (SSLZY) said they are in preliminary talks about a merger deal (Press Release)
Rumors
Allete (ALE) reportedly working with an advisor on a sale process (Reuters)
Paramount Global (PARA) controlling shareholder Shari Redstone has held talks about the sale of the company's movie studio and other assets (Financial Times)
Update on Shareholder Activism
2seventy Bio (TSVT) activist investor Engine Capital pushing for a board refresh and the appointment of its chief operating officer as CEO (Letter)
Criteo (CRTO) activist fund Petrus Advisers disclosed a 5% stake in the company (Filing)
Walt Disney (DIS) activist investor Ancora has built a position and wants the company to put activist investor Nelson Peltz on the board (Letter)
Update on Other Special Situations
Spin-Offs
Edwards Lifesciences (EW) announced plans to spin-off its critical care unit (Press Release, Presentation)
Other
Carrier Global (CARR) agreed to sell its building-security business to Honeywell International (HON) for $5bn (Press Release)
Announced M&A
Consumer & Retail
Hawaiian Holdings (HA) / Alaska Air (ALK) – $1.9bn (Press Release, Presentation)
Healthcare
Cerevel Therapeutics (CERE) / AbbVie (ABBV) – $8.3bn (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.