A Weekly Update on Special Situations
  • Continental Resources $CLR received an unsolicited take-private proposal from its controlling shareholder.

  • NCR $NCR said it was deciding between a sale of the entire company or splitting into two.
"The conversations with potential suitors have been extremely constructive."
– Michael Nelson, NCR Corp – VP of IR & Treasurer – at RBC Capital Markets Financial Technology Conference

  • Mereo BioPharma $MREO reportedly draws takeover interest from AstraZeneca $AZN.

  • Paya Holdings $PAYA reportedly exploring a sale amid takeover interest.

  • Seagen $SGEN reportedly in takeover talks with buyers including Merck $MRK.

  • FedEx $FDX announced a 50% dividend hike and a cooperation agreement with D.E. Shaw regarding board composition.

  • Radius Health $RDUS 15% shareholder Rubric Capital sent a letter backing activist investor’s board slate.

  • Templeton Global $GIM activist Saba Capital commented on Templeton’s attempt to invalidate shareholder vote at AGM.

  • Bausch Health $BHC suspended the planned IPO of its Solta skin-care business.

Thanks for reading! Until next week.
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