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   Strategies & Market TrendsSpeculating in Takeover Targets

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From: E_K_S9/18/2019 2:13:07 PM
1 Recommendation   of 6084
McDermott says 'routinely hires external advisors to evaluate opportunities'
Sep. 18, 2019 1:57 PM ET|

Trading resumes in McDermott ( MDR -44.2%) after the company issues a statement in response to its earlier halt, saying it "routinely hires external advisors to evaluate opportunities for the company."

A few minutes ago, WSJ confirmed market chatter that the company has engaged turnaround consulting firm Alix Partners to advise on efforts to improve cash flow and stem a recent spate of net losses.

MDR says it "is taking positive and proactive measures, as we have done in the past, intended to improve its capital structure and the long-term health of its balance sheet."

Trading had been halted for three hours after shares had plunged nearly 50% on heavy volume.


Check out their Debt over $3.6Bln as a result of their CBI acquisition. This smells like a potential structured BK to flush out the debt.

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From: richardred9/19/2019 7:09:18 AM
   of 6084
Cisco Offered $7 Billion-Plus for DataDog As Company Prepares to IPO

Gillian Tan, Liana Baker and Ian King
September 18, 2019, 4:35 PM EDT Updated on September 18, 2019, 5:00 PM EDT

Cisco Systems Inc. approached software company Datadog Inc. in recent weeks with a takeover offer significantly higher than the $7 billion valuation it is aiming for in an initial public offering, according to people familiar with the matter.Datadog rebuffed the advance to pursue a stock listing because it felt it could be worth more as a public company over time, according the people, who requested anonymity because the talks were private. Talks between Cisco and Datadog are no longer active and Datadog is committed to going public, they said.

A representative for Cisco declined to comment. Datadog couldn’t immediately be reached for comment.

Datadog this week boosted its IPO price range to $24 to $26 per share from $19 to $22 per share, according to a filing, valuing it at as much $7.5 billion at the top of that range. The IPO is expected to price Wednesday.

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To: richardred who wrote (5185)9/19/2019 7:31:10 AM
From: richardred
   of 6084
RE-MITK You had a much higher offer on the table. Why Now?

ASG raises offer to buy Mitek to $11.50 per share.

Mitek Systems, Inc. (NASDAQ:MITK) Insider Sells $86,129.52 in Stock Posted by ABMN Staff on Sep 18th, 2019 // No Comments

Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 8,753 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $9.84, for a total value of $86,129.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of MITK stock traded down $0.02 during trading hours on Wednesday, hitting $9.81. The company had a trading volume of 183,492 shares, compared to its average volume of 400,846. Mitek Systems, Inc. has a 12 month low of $6.32 and a 12 month high of $13.07. The firm has a market capitalization of $400.77 million, a price-to-earnings ratio of 75.46, a PEG ratio of 4.24 and a beta of -0.13. The firm’s fifty day moving average is $9.79 and its 200 day moving average is $10.52.

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To: richardred who wrote (5521)9/19/2019 10:02:13 AM
From: richardred
   of 6084
RE: Coffee Wow FARM up 40% since my last post on the crappy earnings release. JVA OK earnings, but IMO nothing to get to stimulated just yet.

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From: E_K_S9/19/2019 3:43:08 PM
   of 6084
Stifel sees competition heating up for Dave & Buster's
Sep. 19, 2019 3:39 PM ET|

Stifel starts off coverage on Dave & Buster's ( PLAY +0.3%) with a Hold rating.

The firm see competitive pressure on the chain with its high store-level margin and new unit returns attracting new eatertainment concepts to the sector.

"Our due diligence suggests the competitive headwind is unlikely to abate anytime soon and could be difficult to combat unless the company revitalizes many of its existing venues," warns analyst Chris O'Cull.

Looking further ahead, O'Cull and team thinks Dave & Buster's could be a compelling leveraged buyout target, which is enough optionality to potentially support the current valuation.

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To: E_K_S who wrote (5540)9/20/2019 8:53:29 AM
From: E_K_S
   of 6084
McDermott to explore sale of Lummus Technology business; shares +75%
Sep. 20, 2019 7:30 AM ET|About: McDermott International, Inc. (MDR)|By: Carl Surran, SA News Editor

McDermott (NYSE: MDR) +75.9% pre-market after saying it is exploring strategic alternatives for its Lummus Technology unit, which it values at ~$2.5B, after receiving unsolicited approaches to acquire all or part of the business.

Lummus is a licensor of proprietary petrochemicals, refining, gasification and gas processing technologies.

MDR says it has hired Evercore as the lead advisor on the strategic alternatives process for Lummus.

MDR shares have plummeted 73% in two day on bankruptcy fears.

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To: richardred who wrote (5543)9/22/2019 9:22:28 PM
From: richardred
1 Recommendation   of 6084

M&A wrap: Grupo Nutresa, Cameron's Coffee, Stripe, Gamut, Riverside

  • Demitri Diakantonis
  • Mary Kathleen Flynn

  • Published
  • September 19 2019, 10:49am EDT

  • Photo credit: Grupo Nutresa
    Food processor Grupo Nutresa SA has acquired Cameron's Coffee from Goldner Hawn for $113 million. The deal expands Grupo Nutresa's U.S. presence, which the company calls "one of the largest and most dynamic coffee markets in the world." Cameron's is a producer of branded and private-label single-serve coffee pods, bagged whole bean and ground coffee and bulk whole bean coffee mainly for the grocery sector. Grupo Nutresa CEO Carlos Ignacio Gallego says: “This acquisition is a new step in Grupo Nutresa’s internationalization process and is aligned with our objective of improving the quality of life of consumers through conscious brands, affordable products and innovative, differentiated value propositions." The company, based in Medellin, Colombia, is a diversified food processing company that sells cold cuts, biscuits, chocolates, ice cream and pasta. Piper Jaffray (NYSE: PJC) advised Goldern Hawn. The buyer was advised by Tully & Holland, Nixon Peabody and EY.

    It’s a milestone year for the Blackstone Group Inc. (NYSE: BX), which transitioned from a publicly-traded partnership to a corporation on July 1. Most recently, the New York firm announced on Sept. 11 the final close of its latest global real estate fund . With $20.5 billion of total capital commitments, Blackstone Real Estate Partners IX is the largest real estate fund ever raised. Mergers & Acquisitions spoke with Stephen A. Schwarzman, the firm’s co-founder, chairman and CEO, on the occasion of his new book, What It Takes: Lessons in the Pursuit of Excellence, published by Avid Reader Press/Simon & Schuster, and released on Sept. 17. Schwarzman, who is speaking at the Economic Club of New York on Sept. 18, shared his perspective on the private equity model, its resilience during recessions and how the industry has evolved over three decades. Read the full story: "Complete control" is the beauty of private equity, says Blackstone's Stephen A. Schwarzman.

    Mergers & Acquisitions seeks nominations for the fifth edition of the Most Influential Women in Mid-Market M&A. The deadline is Oct. 14. To be considered, candidates must be women who are outstanding dealmakers both inside and outside of their firms. Evidence of influence in the broader M&A industry is essential. When nominating a candidate, please explain how she outperforms her colleagues at her firm and in the industry. Please provide examples of deals she has led, initiatives she has launched and other instances that show evidence of her influence in the middle market. An important guide to what we're looking for can be found in the dealmakers we've honored in previous years. See profiles of, and Q&As with, past honorees here.

    Payments platform Stripe Inc. became one of the most highly valued startups in the world on Thursday, after it announced a new funding round at a $35 billion valuation, not counting the more than $1 billion investors have poured into the company. In the U.S., only vaping giant Juul Labs Inc. and the troubled We Co. are more valuable. Stripe raised $250 million in funding in the new round, which the company said will be used to continue to expand around the world and launch new products. Read the full the stories: Stripe becomes third most valuable startup in the U.S. and Stripe's $35 billion valuation powers global battle against consolidating processors.

    Gamut Capital Management is buying American Axle & Manufacturing Holdings Inc.'s (NYSE: AXL) U.S. iron casting operations, also known as Grege, for $245 million. The business being sold manufactures ductile, iron castings and machined parts for the automotive and industrials sectors. "The sale of Grede will enable us to streamline our business, accelerate our debt reduction initiatives and enhance our margin profile," says AAM CEO David Dauch.

    Crossplane Capital has acquired a controlling stake in Accent Family of Cos., which owns wire and building product distributors Accent Wire-Tie, Accent Wire-Tie United Kingdom and Accent Building Materials.

    High Road Capital Partners-backed U-C Coatings has acquired Eco Chemical Inc. The latter is a manufacturer of water-based stains and coatings that are used on pressure treated wood in the manufacturing of wood products such as fencing, decks and exteriors.

    The Riverside Co. has invested in Blue Moon Estate Sales. The target is a real estate franchise that offers estate sale and other services to assist seniors and their families when they are selling the senior’s residence to downsize or transition to a senior living facility.

    Shore Capital Partners has invested in Main Street Gourmet, a wholesale bakery that distributes frozen muffins, cookies and other baked products to the retail and foodservice sectors.

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    To: richardred who wrote (5116)9/23/2019 12:06:53 PM
    From: richardred
       of 6084
    RE- IEC speculation

    Arotech to be Acquired by Greenbriar for $3.00 Per Share in Cash

    PRESS RELEASE GlobeNewswire
    Sep. 23, 2019, 08:05 AM

    ANN ARBOR, Mich., Sept. 23, 2019 (GLOBE NEWSWIRE) -- Arotech Corporation (NasdaqGM: ARTX) today announced that it has entered into a definitive agreement with an affiliate of Greenbriar Equity Group, L.P. (“Greenbriar”) under which the affiliate will acquire all outstanding shares of Arotech common stock for $3.00 per share in cash, representing an aggregate equity value of approximately $80.8 million.

    The $3.00 per share cash consideration represents a premium of approximately 32.7% to Arotech’s closing share price on September 20, 2019, the last full trading day before today’s announcement. The transaction, which was unanimously approved by Arotech’s Board of Directors upon recommendation by a Special Committee of the Board, is expected to close in the first quarter of 2020. Following completion of the transaction, Arotech expects it will remain headquartered in Ann Arbor, MI.

    Transaction Details

    Under the terms of the merger agreement, Arotech’s Board of Directors, with the assistance of its financial advisor, will conduct a 30-day “go-shop” process following the date of the announcement of the merger agreement, during which it will actively initiate, solicit, facilitate, encourage and evaluate alternative acquisition proposals, and potentially enter into negotiations with any parties that offer alternative acquisition proposals. Arotech will have the right to terminate the merger agreement to accept a superior proposal, subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” process will result in a superior proposal or that any other transaction will be approved or completed, and Arotech does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors makes a determination requiring further disclosure.

    The proposed transaction is subject to, among other customary closing conditions, approval by the holders of a majority of the shares of Arotech common stock. There are no financing contingencies contemplated under the terms of the merger agreement. Following completion of the transaction, Arotech will become a privately-held company and shares of Arotech’s common stock will no longer be listed on any public market.


    B. Riley FBR, Inc. is serving as exclusive financial advisor to Arotech, and Lowenstein Sandler LLP is serving as legal counsel. Kirkland & Ellis LLP is serving as legal counsel to Greenbriar.

    About Arotech Corporation

    Arotech Corporation is a defense and security company engaged in two business areas: interactive simulation and mobile power systems.

    Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Michigan, South Carolina, and Israel. For more information on Arotech, please visit Arotech’s website at

    About Greenbriar Equity Group

    Founded in 1999, Greenbriar Equity Group is a private equity firm with over $3.5 billion of committed capital focused on investing in market-leading manufacturing and services businesses in partnership with proven management teams. Greenbriar looks to identify companies capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s industry knowledge, operating capabilities, network of senior executive relationships, strategic insight and access to capital. Sectors of particular focus include aerospace and defense, industrial and business services, transportation and logistics, and specialty manufacturing. Additional information may be found at

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    From: E_K_S9/24/2019 9:14:49 AM
       of 6084
    CPB continues to divest non core assets. Could be a good fit for companies looking for food products . .

    Campbell Soup earmarks Kelsen proceeds to debt-reducing effort
    Sep. 24, 2019 9:10 AM ET|About: Campbell Soup Company (CPB)|By: Clark Schultz, SA News Editor

    Campbell Soup (NYSE: CPB) closes on the $300M sale of Kelsen Group to a Ferrero affiliated company.

    The company plans to use the proceeds from the divestiture to reduce debt.

    Source: Press Release

    Shares of Campbell Soup are up 41% YTD as the company's asset-lean strategy appears to be paying off.

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    To: E_K_S who wrote (5545)9/24/2019 1:00:23 PM
    From: E_K_S
       of 6084
    McDermott seeks bridge loan until asset sales - Bloomberg
    Sep. 24, 2019 12:48 PM ET|About: McDermott International, Inc. (MDR)|By: Carl Surran, SA News Editor

    McDermott ( MDR -6.6%) is seeking a bridge loan to cover a $1.7B working capital gap until it can sell assets such as Lummus Technology, Bloomberg reports.

    MDR said last week that it recently received unsolicited approaches to acquire all or part of Lummus; based on the receipt of these approaches, MDR is exploring strategic alternatives to unlock the value of the unit.

    Credit Suisse analyst Jamie Cook said MDR's Lummus announcement was considered "a last resort" but was "unfortunately needed" to improve the balance sheet.

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