M&A Update – Nov 4

– DENN to be acquired by TriArtisan Capital Advisors / Treville Capital Group / Yadav Enterprises for $6.25 cash per share, 52.1% premium, $620 million
– AND.to / UPS deal closed
– STEP.to / ARC Financial filed management information circular, vote Dec 12, closing Dec 16
– PRO / Thoma Bravo filed DEFM14a, vote Dec 4, filed HSR Oct 24, filed German FCO Oct 21, filed Australian ACCC Oct 23, closing Q4 2025