The Special Situation Report #95: 1/14 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
PGT Innovations (PGTI) said it would enter discussions with Miter Brands after its board determined that Miter’s bid may lead to a superior proposal (Press Release)
Rumors
Cytokinetics (CYTK) potential suitor Novartis (NVS) reportedly backed away in its pursuit of the company (WSJ); Amgen (AMGN) is reportedly interested (BioSpace)
DocuSign (DOCU) reportedly draws interest from private equity (Reuters)
PagerDuty (PD) reportedly evaluating its options amid takeover interest from private equity firms (Bloomberg)
Update on Shareholder Activism
Match Group (MTCH) draws investment from Elliott Investment Management, which intends to have discussions with the company (WSJ)
Update on Other Special Situations
Wolverine World Wide (WWW) announced the sale of its Sperry brand to Authentic Brands Group and the ALDO Group (Press Release)
Announced M&A
Target / Acquirer – Approximate Transaction Enterprise Value
Financials
Catskill Hudson Bank (CSKL) / Hudson Valley Credit Union – $29 million (Press Release)
Healthcare
Ambrx Biopharma (AMAM) / Johnson & Johnson (JNJ) – $1.8bn (Press Release)
Axonics (AXNX) / Boston Scientific (BSX) – $3.7bn (Press Release, Presentation)
Harpoon Therapeutics (HARP) / Merck (MRK) – $660mm (Press Release)
Technology, Media & Telecommunications
Juniper Networks (JNPR) / Hewlett Packard Enterprises (HPE) – $14bn (Press Release, Presentation)
Transphorm (TGAN) / Renesas Electronics Corporation – $339mm (Press Release)
Energy & Natural Resources
Southwestern Energy Company (SWN) / Chesapeake Energy (CHK) – $7.4bn (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.