M&A Update – December 1

– ARCE received unsolicited proposal at $11.00 cash per share from General Atlantic and Dragoneer, 21.7% premium
– SPNE / OFIX received unsolicited proposal at $23.00 cash per share, 27.9% premium, Orthofix board unanimously determined that it is unable to conclude that the indication of interest is reasonably likely to lead to a superior proposal
– OYST / VTRS launched tender offer, expires Dec 30
– PBFX / PBF deal closed