M&A Update – May 5

– FSEA to be acquired by Cambridge Financial Group for $17.25 cash per share, 46.9% premium, $80.9 million
– VAL / RIG received second request from DOJ
– KW / FFH filed DEFM14a, vote June 10, closing Q2 2026
– CTRA / DVN shareholders approved merger, closing May 7
– AES / GIP / EQT / CalPERS / QIA filed PREM14a, closing late 2026 or early 2027