Four Essentials from CTFN This Week

Rivals and clients of Linde and Praxair in Brazil are monitoring the ongoing merger between the two industrial gas giants with great apprehension, with sources raising doubts that the deal could be cleared by Brazilian regulator CADE without significant divestments. More here … The Competition Commission of India is likely to clear the Monsanto-Bayer deal … Read Morepublic

CTFN Editors’ M&A Highlights of the Week

NxStage – CTFN confirmed with a source close to the deal that Fresenius has not certified substantial compliance with the U.S. Federal Trade Commission’s second request, as some featured

Excess Volume in CBS Suggests 9%-11% Proration in Radio Exchange Offer

With volume in CBS having picked up considerably in the last two weeks, CTFN research analysts anticipate proration of approximately 9%-11% in the split-off exchangefeatured

CBS Radio Split-Off Likely Sees Less Participation than Outdoor

While there are similarities between CBS’s current split-off of its Radio business and the split-off of its Outdoor business in 2014, research by CTFN analysts suggests there is reason to believe that there will befeatured

Sabra Health Care REIT Shareholders Voting with Their Feet

The Huntsman/Clariant and Rice Energy/EQT deals have enticed shareholder activists to take stakes in the acquirers in hopes of quashing the deals that the companiesfeatured

Phase 2: DOJ v. Cigna/Anthem – Notes from the Proceedings

CTFN continues reporting from U.S. District Court for the District of Columbia today where the Department of Justice continues its challenge of the Cigna/Anthem merger. Updates will be posted below throughout the day. For clients seeking additional detail, please contact to setup a direct consultation with the reporter.featured

DOJ v. Humana/Aetna – Notes from the Proceedings

CTFN continues its reporting from U.S. District Court for the District of Columbia today where the Department of Justice continues its challenge of the Humana/Aetna merger.  Updates will be posted below. To Keep Reading, Request a Trial Already a subscriber? Log-infeatured

Estimate of Coty/Procter & Gamble Exchange Offer Proration Rises

According to internal research by CTFN analysts, excess volume has been a reliable basis for estimating proration in recent split-off exchange offers. One third of the way through the 3-day pricing period in Procter & Gamble’s split-off exchange offer of Coty shares, CTFNfeatured

Starboard’s Consent Solicitation for Depomed Underway

With additional reporting by Diane Alter – Starboard Value LP’s successful removal of the board of casual dining company Darden Restaurants in October 2014 reverberated in boardrooms across the country putting directors on notice that they can be the target of similar action by an activist investor. Starboard is now in the process of soliciting proxies … Read Morefeatured

Rite Aid/Walgreens Divestitures Not Seen Attracting McKesson, Cardinal Health or Loblaw

Some of the larger potential acquirers of drugstores are not likely to be interested in store divestitures offered in conjunction with the Federal Trade Commission’s review of the pending Rite Aid/Walgreens merger, CTFN has learned. Both McKesson, with its Health Mart banner, and Cardinal Health with its Medicine Shoppe banner, told CTFN that their storesfeatured


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