M&A Update – August 14

– CLF announced unsolicited proposal to acquire X for $17.50 cash + 1.023x shares, 43.2% premium, X rejected proposal and initiated formal review process to evaluate strategic alternatives
– CD to be acquired by Bain Capital for $8.60 per ADS, 42.6% premium, $4.2 billion
– ZYNE to be acquired by HRMY for $1.1059 cash per share + 1 CVR worth up to $2.5444, 225.3% premium, $60 million
– APE / AMC conversion plan approved by court, expects APE to cease trading on Aug 25 2023
– ARNC / APO cleared EC
– KDNY / NOVN deal closed
– RETA / BIIB filed PREM14a, filed HSR Aug 11, closing Q4 2023
– DHC / OPI / Glass Lewis and ISS recommend DHC shareholders vote Against merger