M&A Update – March 27

– BGRY to be acquired by Softbank for $1.40 cash per share, 22.8% premium, $375 million
– JNCE to be acquired by Concentra Biosciences for $1.85 cash per share + CVR, 74.5% premium, $96.5 million
– BLKB received unsolicited proposal from Clearlake Capital (18.3% owner) for $71.00 cash per share, 22.8% premium, board rejected proposal and determined that the proposal was highly opportunistic and significantly undervalues Blackbaud
– TA / BP / ARKO submitted $92.00 proposal for TravelCenters, urged board to consider proposal
– LBC / WAFD filed S-4/a, votes May 4, closing Q3
– SGFY / CVS delisting notice, closing Mar 29
– AIMC / RRX delisting notice, closing Mar 27
– VLTA / SHEL delisting notice, closing Mar 31
– NUVA / GMED filed S-4/a, votes Apr 27, closing mid 2023
– SUMO / Francisco Partners filed PREM14a, no meeting date set, cleared HSR Mar 27, closing Q2