M&A Update – Oct 27

– WTRG to be acquired by AWK for 0.305x shares, 4.8% premium, $19.9 billion
– RNA to be acquired by NVS for $72.00 cash per share, 46.5% premium, $12.0 billion
– CADE to be acquired by HBAN for 2.475x shares, 9.0% premium, $7.4 billion
– PLYM to be acquired by Makarora Management LP / Ares Alternative Credit funds for $22.00 cash per share, 50.3% premium, $2.1 billion
– SOHO to be acquired by Kemmons Wilson Hospitality Partners / Ascendant Capital Partners for $2.25 cash per share, 152.8% premium, $470.9 million
– MEG.to / CVE.to bumped bid 1.5% to $15.00 cash + 0.6275x shares, entered voting support agreement with Strathcona
– GRND announced unsolicited proposal from shareholders George Raymond Zage III and James Fu Bin Lu at $18.00 cash per share, 51% premium
– JHG announced unsolicited proposal from Trian and General Catalyst at $46.00 cash per share, 10.5% premium
– WOW / DigitalBridge Investments / Crestview Partners filed DEFM14a, vote Dec 3, closing Q4 2025 or Q1 2026
– HSII / Advent International / Corvex Private Equity filed PREM14a, filed HSR Oct 17, filed German FCO and Australian ACCC Oct 20, closing Q1 2026
– AKRO / NONOF filed PREM14a, HSR to be filed by Nov 7, closing around year end
– PKI.to / SUN expected closing Oct 31
– STAA / ALC postponed vote to Dec 3
– GES HSR expires
– TIXT vote
– TRML tender expires