M&A Update – Feb 27

– NATL to be acquired by BCO for $30.00 cash + 0.1574x shares, 22.6% premium, $6.6 billion
– KORE to be acquired by Searchlight Capital Partners / Abry Partners for $9.25 cash per share, 132.4% premium, $726 million
– RNA / NVS deal closed
– WBD board determined the revised proposal from PSKY constitutes a “Company Superior Proposal”, NFLX declines to match
– GDI.to / Birch Hill Equity Partners received court approval, closing early Mar
– LIRC.to shareholders approved ALS.to merger
– OS / Hg / General Atlantic / Tidemark filed DEFM14c, closing H1 2026
– FFWM / FSUN votes
– EB vote
– ONTF HSR expires

SPAC Update – Feb 27

– DRDB announced a business combination with ThomasLloyd Climate Solutions
– TVA is discussions regarding spin-off of Truth Social
– IDACU $200 million IPO
– FTW deal vote
– VMCAF extension vote
– ARTCU split
– SSACU split
– SORNU split
– CMIIU split
– WLAC redemption

M&A Update – Feb 26

– JHG received unsolicited proposal from VCTR at $57.04 ($30.00 in cash and a fixed exchange ratio of 0.350x shares), 16.4% above Trian’s friendly bid
– SEE shareholders approved CD&R buyout, cleared China SAMR
– FFWM / FSUN received Office of the Comptroller of the Currency approval, closing Q2 2026
– FFIC / OCFC filed DEFM14a, votes Apr 2, closing Q2 2026
– FONR / CEO / Insiders filed PREM14a, closing no later than Mar 12
– UDMY / COUR filed S-4, closing H2 2026
– LIRC vote
– RNA vote

SPAC Update – Feb 26

– FVAV $250 million IPO
– TRGSU $200 million IPO
– TRADU $100 million IPO
– RFAMU split

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