M&A Update – June 28

– KLR to be acquired by Tata Communications for $7.25 cash per share, 51.0% premium, $100 million
– XM / Silver Lake / CPP Investments deal closed
– CIR received unsolicited proposal from Arcline Investment Management LP at $57.00 cash per share, 80.0% premium, 11.8% premium to KKR agreement
– ASTC received unsolicited proposal from BML Investment Partners at $17.25 cash per share, 49.5% premium
– FREE received unsolicited proposal from Sababa Holdings FREE at $4.00 cash per share, 28.2% premium
– FREVS received unsolicited proposal from K Corp Acquisitions LLC (a Kushner company) at $22.00 cash per share, 52.2% premium
– PMC/a.to entered into non-binding discussions to consider a combination of Postmedia, together with the Metroland newspapers and certain operational assets of the Toronto Star
– HMPT / Mr. Cooper Group announced tender offer extended to July 21 to allow for satisfaction of remaining conditions
– DSEY / Solenis (Platinum Equity) delisting notice, closing July 5
– SYNH / Elliott / Patient Square Capital / Veritas Capital filed DEFM14a, vote Aug 2, cleared HSR June 23, closing H2 2023
– BGRY / SoftBank Group filed DEFM14a, vote July 18, cleared HSR May 8, cleared Investment Canada June 6
– MMP / OKE cleared HSR, closing Q3 2023
– KDNY / NOVN filed PREM14, closing H2 2023
– ATVI hearing
– VECT tender expires