M&A Update – April 11

– DHC to be acquired by OPI for 0.147x shares, 36.9% premium, $2.8 billion
– HEXO to be acquired by TLRY for 0.4352x shares, -9.0% discount, $169.4 million
– NCM.to received a revised non-binding indicative proposal from NEM at 0.4x exchange ratio, referred to as “best and final”, granted due diligence access
– TECK / GLEN proposed to introduce a cash element to the Proposed Merger Demerger to effectively buy Teck shareholders out of their coal exposure such that Teck shareholders would receive 24% of MetalsCo and US$8.2 billion in cash
– QNCX rejected the $1.60 cash per share unsolicited proposal from Echo Lake Capital
– NVCN / SWAV deal closed
– GSMG / Cheers deal terminated
– DSEY / Solenis (Platinum Equity) filed PREM14a, filed HSR Mar 22, closing H2
– TA / BP cleared HSR, closing May 15
– PRVB / SNY pulled and refiled HSR, extended tender to Apr 26
– BKI / ICE / FTC seeks court order preventing merger pending agency administrative challenge
– AMYT / Chiesi Farmaceutici delisting notice, closing Apr 12