| DEAL PARTIES | PRICE LEVELS | TARGET PERCENTAGES | ODDS | TIMING | CHANGES | COMPS | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Target | Acquirer | Target listing | Five-day liquidity (USD mn) | Target original | Target break | Target break w/ RT fee | Target now | Offer | Premium | Gross downside | Downside w/ RT fee | Gross spread | All-in spread | Ann. all-in | Implied gross chance of close | Implied all-in chance of close | Profit pool (USD mn) | Undisturbed date | Official closing guidance | CTFN closing estimate | Target break, 1W %Δ | Implied gross chance of close, 1W Δ | Comp tickers for target |
| Norfolk Southern | Union Pacific | US | 136 | 260.32 | 304.70 | 312.53 | 309.79 | 354.82 | 36.3% | 1.6% | -0.9% | 14.5% | 17.2% | 12.0% | 10% | — | 13,692 | 2025-07-16 | 1H27 | 2027-11-15 | — | — |
CNI
CP
9020.T
AZJ.AX
80%
TRN
GBX
GATX
WAB
20%
|
| Warner Bros Discovery | Paramount Skydance | US | 388 | 12.54 | 9.69 | 11.63 | 27.13 | 31.00 | 147.2% | 64.3% | 57.1% | 14.3% | 14.3% | 49.1% | 82% | 80% | 10,955 | 2025-09-10 | 3Q26 | 2026-09-15 | — | — |
CMCSA
DISH
ATUS
43%
DIS
CIDM
6758.T
CMCSA
29%
NFLX
DIS
PARA
28%
|
| ENN Energy | ENN Natural Gas | Hong Kong | 18 | 54.20 | 36.51 | 36.51 | 53.20 | 91.44 | 68.7% | 31.4% | 31.4% | 71.9% | 76.3% | 103.3% | 30% | 29% | 9,929 | 2025-03-14 | 1H26 | 1H26 | -20% | 4% |
ATO
OGS
SR
NFG
|
| SECURE Waste Infrastructure | GFL Environmental | Canada | 11 | 21.36 | 20.22 | 20.22 | 20.91 | 34.27 | 60.4% | 3.3% | 3.3% | 63.9% | 66.2% | 57.5% | 5% | 5% | 3,574 | 2026-04-10 | 2H26 | 2H26 | -1% | -2% |
CLH
RSG
GFL
HCCI
55%
PAA
MPLX
KMI
EPD
45%
|
| TopBuild | QXO | US | 232 | 410.31 | 415.52 | 430.34 | 409.14 | 505.00 | 23.1% | -1.6% | -5.2% | 23.4% | 23.4% | 285.1% | — | — | 3,305 | 2026-04-17 | 3Q26 | 2026-07-01 | 4% | — |
OC
CSL
BECN
BMI
70%
FER.MC
ACS.MC
TCL.AX
PWR
20%
GWW
FAST
MSM
POOL
10%
|
| Penumbra | Boston Scientific | US | 75 | 313.43 | 265.64 | 281.32 | 319.35 | 374.00 | 19.3% | 16.8% | 11.9% | 17.1% | 17.1% | 14.3% | 50% | 41% | 2,508 | 2026-01-14 | 2H26 | 2H26 | 3% | -11% |
AVNT
ALLEI.ST
ITGR
SOLB.BR
|
| Electronic Arts | Public Investment Fund | US | 200 | 168.32 | 103.66 | 106.47 | 202.35 | 210.00 | 24.8% | 48.8% | 47.4% | 3.8% | 3.9% | 11.7% | 93% | 92% | 2,041 | 2025-09-25 | 2Q26 | 2026-09-30 | 12% | 0% |
NTES
RBLX
9766.T
UBI.PA
|
| ZIM Integrated Shipping Services | Hapag-Lloyd | US | 24 | 22.20 | 58.16 | 59.09 | 25.21 | 35.00 | 57.7% | -130.7% | -134.3% | 38.8% | 45.8% | 140.0% | — | — | 1,930 | 2026-02-13 | 4Q26 | 4Q26 | 8% | — |
MPCC.OL
ODF.OL
1308.HK
MAERSK-B.CO
|
| AvalonBay Communities | Equity Residential | US | 88 | 174.28 | 183.25 | 187.88 | 183.51 | 184.94 | 6.1% | 0.1% | -2.4% | 0.8% | 5.6% | 0.7% | 15% | — | 1,455 | 2026-04-27 | 2H26 | 2H26 | 0% | — |
CPT
MAA
ESS
UDR
|
| Axalta Coating Systems | AkzoNobel | US | 49 | 28.18 | 28.38 | 28.87 | 30.85 | 35.68 | 26.6% | 8.0% | 6.4% | 15.6% | -24.0% | — | 34% | — | 1,398 | 2025-11-17 | 2H26 | 2026-11-30 | 6% | 7% |
SHW
PPG
RPM
|
| Kenvue | Kimberly-Clark | US | 202 | 14.37 | 12.70 | 13.11 | 17.07 | 17.50 | 21.8% | 25.6% | 23.2% | 2.5% | 3.8% | 11.3% | 91% | 86% | 1,259 | 2025-10-31 | 2H26 | 2026-10-31 | — | — |
PG
PRPH
HLN
CL
41%
UL
PG
4911.T
4452.T
27%
PG
UL
ESSITY-A.ST
32%
|
| Globalstar | Amazon | US | 70 | 68.53 | 110.86 | 113.69 | 82.46 | 90.00 | 31.3% | -34.4% | -37.9% | 9.1% | 9.1% | 5.8% | — | — | 1,057 | 2026-04-01 | 2027-12-31 | 2027-12-31 | 4% | — |
VSAT
IRDM
SESG.PA
|
| CECONOMY | JD.com | Germany | 0 | 3.75 | 5.70 | 5.70 | 3.92 | 4.60 | 22.7% | -45.3% | -45.3% | 17.2% | 34.5% | 103.3% | — | — | 879 | 2025-07-23 | 4Q26 | 2026-07-31 | 2% | — |
7419.T
JBH.AX
HVN.AX
|
| Allied Gold | Zijin Gold | Canada | 12 | 41.75 | 34.42 | 35.65 | 36.07 | 44.00 | 5.4% | 4.6% | 1.2% | 22.0% | 22.0% | 138.4% | 17% | 5% | 808 | 2026-01-23 | 2026-07-29 | 2026-07-29 | — | — |
NEM
AEM
AU
NST.AX
|
| AES | Global Infrastructure Partners | US | 111 | 11.07 | 11.79 | 12.37 | 14.71 | 15.00 | 35.5% | 19.8% | 15.9% | 2.0% | 6.8% | 8.0% | 91% | 70% | 721 | 2025-07-08 | 1Q27 | 2027-06-01 | 3% | -0% |
VST
NRG
AGL.AX
SSE.L
|
| SkyWater Technology | IonQ | US | 28 | 31.32 | 54.52 | 54.52 | 39.41 | 50.81 | 62.2% | -38.3% | -38.3% | 28.9% | 28.9% | 139.8% | — | — | 714 | 2026-01-23 | 3Q26 | 3Q26 | — | — |
TSM
UMC
GFS
0981.HK
|
| Brighthouse Financial | Aquarian Holdings VI | US | 26 | 51.09 | 47.29 | 50.67 | 62.29 | 70.00 | 37.0% | 24.1% | 18.7% | 12.4% | 12.4% | 10.4% | 66% | 60% | 617 | 2025-01-27 | 2H26 | 2H26 | — | — |
LNC
MOH
601318.SS
ANTM
|
| Masimo | Danaher | US | 85 | 130.15 | 110.00 | 110.00 | 178.75 | 180.00 | 38.3% | 38.5% | 38.5% | 0.7% | 6.3% | — | 98% | 86% | 608 | 2026-02-13 | 2H26 | 2026-09-30 | — | — |
MDT
ABT
DXCM
69%
6758.T
BO.CO
SONO
24%
ABT
ROG.SW
SHL.DE
TMO
7%
|
| ARC Resources | Shell | Canada | 46 | 25.77 | 26.51 | 26.51 | 32.24 | 32.62 | 26.6% | 17.8% | 17.8% | 1.2% | 2.5% | 4.9% | 94% | 88% | 596 | 2026-04-24 | 2H26 | 2H26 | 1% | 13% |
COP
EOG
PXD
MRO
|
| Allfunds | Deutsche Börse | Netherlands | 2 | 6.64 | 4.13 | 4.25 | 8.47 | 9.16 | 34.9% | 51.3% | 49.9% | 5.7% | 8.1% | — | 90% | 86% | 512 | 2025-11-26 | 1H27 | 2027-03-31 | — | — |
AMG
STEP
ONEX.TO
73%
NDAQ
LSE.L
ICE
CBOE
18%
MSCI
SPGI
FDS
SSNC
9%
|
| UniFirst | Cintas | US | 39 | 179.77 | 166.98 | 183.19 | 263.90 | 288.79 | 60.6% | 36.7% | 30.6% | 9.4% | 10.1% | 10.0% | 80% | 75% | 510 | 2025-12-11 | 2H26 | 2H26 | — | — |
VSTS
RTO.L
JSG.L
|
| Qorvo | Skyworks Solutions | US | 106 | 92.13 | 166.06 | 168.30 | 102.74 | — | 17.1% | -61.6% | -63.8% | 5.0% | — | 7.1% | — | — | 500 | 2025-10-27 | 1Q27 | 1Q27 | 15% | — |
INTC
6723.T
ON
MU
|
| Recordati | CVC | Italy | 21 | 45.54 | 45.54 | 45.54 | 50.80 | 51.29 | 12.6% | 10.3% | 10.3% | 1.0% | 3.8% | 0.8% | 91% | 73% | 462 | 2026-03-24 | 2H26 | 2H26 | -0% | — |
VRTX
BMRN
ALNY
RARE
|
| Silicon Laboratories | Texas Instruments | US | 39 | 136.62 | 219.39 | 230.05 | 218.77 | 231.00 | 69.1% | -0.3% | -5.2% | 5.6% | 5.6% | 3.3% | — | — | 425 | 2026-02-03 | 1H27 | 1H27 | 11% | — |
NVDA
QCOM
AVGO
AMD
|
| Qube | Macquarie Asset Management | Australia | 10 | 4.07 | 3.71 | 3.71 | 5.00 | 5.20 | 27.8% | 25.8% | 25.8% | 4.0% | 6.1% | 6.4% | 87% | 81% | 405 | 2025-11-21 | 2H26 | 2H26 | — | — |
1199.HK
NS8U.SI
ICT.PS
WPRTS.KL
50%
XPO
EXPD
DSV.CO
CHRW
35%
CONCOR.NS
SNDR
CP
CNI
15%
|
| Essential Utilities | American Water Works | US | 52 | 41.21 | 37.09 | 39.13 | 37.40 | 38.12 | -7.5% | 0.8% | -4.6% | 1.9% | 3.8% | 6.4% | 30% | — | 404 | 2025-10-24 | 1Q27 | 1Q27 | — | — |
PNN.L
CWT
SVT.L
85%
ATO
OGS
SR
NFG
15%
|
| Webster Financial | Banco Santander | US | 153 | 66.00 | 60.04 | 60.04 | 72.53 | 74.11 | 12.3% | 17.2% | 17.2% | 2.2% | 2.7% | 9.1% | 89% | 86% | 324 | 2026-02-02 | 2H26 | 2026-09-30 | 2% | 4% |
RF
CFG
HBAN
|
| NorthWestern Energy Group | Black Hills | US | 31 | 54.93 | 54.77 | 55.89 | 70.04 | 70.92 | 29.1% | 21.8% | 20.2% | 1.3% | 6.0% | 13.5% | 95% | 77% | 263 | 2025-08-18 | 2H26 | 2H26 | — | — |
NG.L
SRE
FTS
ENGI.PA
60%
ATO
OGS
SR
IG.MI
40%
|
| NCR Atleos | The Brink’s Company | US | 16 | 40.57 | 49.51 | 51.16 | 44.34 | 46.14 | 13.7% | -11.6% | -15.4% | 4.1% | 7.2% | — | — | — | 245 | 2026-02-25 | 1Q27 | 1Q27 | — | — |
RF
CFG
HBAN
|
| Beazley | Zurich Insurance | UK | 44 | 8.20 | 6.58 | 6.58 | 12.82 | 13.10 | 59.8% | 48.7% | 48.7% | 2.2% | 2.2% | — | 96% | 96% | 235 | 2026-01-16 | 2H26 | 2H26 | — | — |
HSX.L
AXS
RNR
MKL
75%
CB
TRV
HIG
ALL
25%
|
| Janus Henderson Group | Trian Fund Management | US | 68 | 41.63 | 44.37 | 45.46 | 51.76 | 52.00 | 24.9% | 14.3% | 12.2% | 0.5% | 2.8% | — | 97% | 81% | 217 | 2025-10-24 | 1H26 | 2026-08-31 | — | — |
FHI
TROW
BEN
IVZ
50%
BLK
STT
BK
IVZ
35%
BLK
STT
IVZ
SCHW
15%
|
| TXNM Energy | Blackstone Infrastructure | US | 43 | 50.07 | 54.14 | 56.72 | 59.48 | 61.25 | 22.3% | 9.0% | 4.6% | 3.0% | 3.7% | 12.5% | 75% | 56% | 208 | 2025-03-05 | 2H26 | 2026-09-30 | 9% | -9% |
FE
POR
GNE
DUK
|
| Organon | Sun Pharmaceutical | US | 23 | 11.26 | 12.01 | 12.01 | 13.38 | 14.00 | 24.3% | 10.2% | 10.2% | 4.7% | 5.6% | 3.3% | 69% | 65% | 203 | 2026-04-24 | 1H27 | 1H27 | -4% | 8% |
VTRS
|
| InPost | Advent | Netherlands | 12 | 11.59 | 17.73 | 17.84 | 15.35 | 15.60 | 34.6% | -15.5% | -16.2% | 1.6% | 1.6% | 1.4% | — | — | 148 | 2026-01-05 | 2H26 | 2H26 | — | — |
FDX
UPS
DPW.DE
2587.T
|
| Schroders | Nuveen | UK | 25 | 4.57 | 3.74 | 3.74 | 5.83 | 5.90 | 29.1% | 35.8% | 35.8% | 1.2% | 1.2% | — | 97% | 97% | 147 | 2026-02-11 | 4Q26 | 4Q26 | — | — |
BLK
STT
BK
IVZ
55%
FHI
TROW
BEN
IVZ
25%
GBLB.BR
SAMG
INVE-B.ST
EXO.MI
20%
|
| Valaris | Transocean | US | 59 | 62.41 | 55.38 | 57.35 | 91.53 | 93.49 | 49.8% | 39.5% | 37.3% | 2.1% | 2.3% | — | 95% | 94% | 146 | 2026-02-06 | 2H26 | 2H26 | -24% | — |
SDRL
PTEN
BORR
SFL
|
| PPHE Hotel Group | Fattal Hotel Group | UK | 1 | 15.00 | 17.42 | 17.42 | 19.78 | 22.00 | 46.7% | 11.9% | 11.9% | 11.2% | 11.2% | — | 51% | 51% | 139 | 2025-11-13 | — | — | 10% | — |
MAR
HLT
IHG.L
H
|
| Commerzbank | UniCredit | Germany | 113 | 12.60 | 20.82 | 20.82 | 36.77 | 35.75 | 183.7% | 43.4% | 43.4% | -2.8% | -2.3% | -0.1% | — | — | 107 | 2024-09-10 | 1H27 | 1H27 | — | — |
HBAN
RF
CFG
55%
GS
MS
JPM
BAC
25%
HSBA.L
STAN.L
C
JPM
20%
|
| LiveRamp | Publicis Groupe | US | 68 | 29.66 | 32.63 | 32.99 | 37.53 | 38.50 | 29.8% | 13.0% | 12.1% | 2.6% | 4.2% | 5.6% | 83% | 74% | 100 | 2026-05-15 | 4Q26 | 4Q26 | 5% | -6% |
TTD
PUBM
DV
CRTO
|
| Taylor Morrison Home | Berkshire Hathaway | US | 887 | 58.50 | 56.08 | 56.08 | 71.54 | 72.50 | 23.9% | 21.6% | 21.6% | 1.3% | 1.3% | 1.1% | 94% | 94% | 93 | 2026-05-29 | 2H26 | 2H26 | — | — |
DHI
DHI
DHI
DHI
|
| Global Business Travel Group | Long Lake Management | US | 56 | 5.93 | 5.59 | 5.95 | 9.36 | 9.50 | 60.2% | 40.3% | 36.4% | 1.5% | 1.5% | 1.3% | 96% | 96% | 76 | 2026-05-01 | 2H26 | 2H26 | 9% | -2% |
BKNG
EXPE
TRIP
TCOM
|
| oOh!media | Pacific Equity Partners | Australia | 1 | 0.85 | 0.80 | 0.80 | 1.24 | 1.40 | 64.7% | 35.5% | 35.5% | 12.9% | 12.9% | — | 73% | 73% | 70 | 2026-04-28 | — | — | 6% | -22% |
TTD
CRTO
PUBM
DV
|
| Senior | Tinicum | UK | 6 | 2.58 | 1.77 | 1.77 | 2.87 | 2.98 | 15.7% | 38.2% | 38.2% | 3.8% | 3.8% | 4.3% | 91% | 91% | 63 | 2026-02-26 | 1Q27 | 1Q27 | — | — |
SPR
MOG-A
HXL
B
|
| ProAssurance | The Doctors | US | 19 | 15.74 | 18.13 | 18.83 | 24.51 | 25.00 | 58.8% | 26.0% | 23.2% | 2.0% | 4.0% | — | 93% | 85% | 52 | 2025-03-18 | 1H26 | 2026-06-30 | -4% | -1% |
HSX.L
AXS
RNR
MKL
|
| JTC | Permira | UK | 15 | 8.97 | 8.27 | 8.27 | 13.18 | 13.40 | 49.4% | 37.3% | 37.3% | 1.7% | 1.7% | 2.6% | 96% | 96% | 52 | 2025-08-13 | 3Q26 | 3Q26 | — | — |
BPT.L
RAT.L
NTRS
SSNC
|
| Clearwater Analytics | Permira | US | 0 | 16.69 | 10.51 | 11.76 | 24.37 | 24.55 | 47.1% | 56.9% | 51.8% | 0.7% | 0.7% | — | 99% | 99% | 51 | 2025-11-10 | 2Q26 | 2Q26 | — | — |
MSCI
SPGI
FDS
ENFN
50%
TRI.TO
WK
DFIN
SPGI
50%
|
| National Storage Affiliates | Public Storage | US | 28 | 30.96 | 30.94 | 30.94 | 42.56 | 42.55 | 37.4% | 27.3% | 27.3% | -0.0% | 1.3% | 17.4% | — | 95% | 43 | 2026-03-12 | 3Q26 | 3Q26 | -8% | — |
PLD
REXR
STAG
TRNO
|
| Boralex | Brookfield Asset Management | Canada | 13 | 28.26 | 30.48 | 31.37 | 36.90 | 37.25 | 31.8% | 17.4% | 15.0% | 0.9% | 1.4% | 3.6% | 95% | 91% | 41 | 2026-03-20 | 4Q26 | 4Q26 | — | — |
ORSTED.CO
NPI.TO
IBE.MC
86%
JKS
SCATC.OL
CWEN
3868.HK
8%
BEP
EBR
NHPC.NS
SJVN.NS
6%
|
| Genco Shipping & Trading | Diana Shipping | US | 3 | 17.90 | 22.88 | 22.88 | 24.07 | 24.80 | 38.5% | 4.9% | 4.9% | 3.0% | 3.0% | — | 62% | 62% | 33 | 2025-11-21 | — | — | -0% | 38% |
2343.HK
SB
KEX
9107.T
|
| Liberty Broadband | Charter Communications | US | 82 | 61.04 | 50.76 | 53.01 | 32.12 | 32.32 | -47.0% | -58.0% | -65.0% | 0.6% | 0.6% | 0.5% | — | — | 29 | 2024-09-23 | 2H26 | 2H26 | — | — |
ATUS
ATUS
CMCSA
CMCSA
|
| Whitestone REIT | Ares Real Estate | US | 3 | 15.02 | 14.42 | 15.44 | 19.02 | 19.00 | 26.5% | 24.2% | 18.8% | -0.1% | 2.9% | — | — | 87% | 28 | 2026-03-05 | 3Q26 | 3Q26 | 1% | — |
SPG
O
KIM
BRX
|
| Catalyst Pharmaceuticals | Angelini Pharma | US | 34 | 27.37 | 26.08 | 26.08 | 31.28 | 31.50 | 15.1% | 16.6% | 16.6% | 0.7% | 0.7% | 3.3% | 96% | 96% | 26 | 2026-04-24 | 3Q26 | 3Q26 | 0% | 0% |
VRTX
BMRN
ALNY
RARE
72%
TEV
4502.T
NVS
ROG.SW
28%
|
| Emerald | Apollo | US | 0 | 3.54 | 2.57 | 2.87 | 4.97 | 5.03 | 42.1% | 48.3% | 42.4% | 1.1% | 2.3% | 0.9% | 98% | 95% | 23 | 2025-12-15 | 2H26 | 2H26 | 1% | -0% |
LYV
|
| PSI Software | Warburg Pincus | Germany | 0 | 24.50 | 12.44 | 12.44 | 45.00 | 45.00 | 83.7% | 72.3% | 72.3% | 0.0% | 2.7% | -0.5% | — | 96% | 22 | 2025-10-08 | 2Q26 | 2Q26 | 17% | — |
NOW
WDAY
TEAM
MNDY
|
| Orla Mining | Equinox Gold | Canada | 16 | 19.77 | 18.05 | 19.01 | 15.78 | 15.86 | -19.8% | -14.4% | -20.5% | 0.5% | 0.5% | 2.5% | — | — | 20 | 2026-05-12 | 3Q26 | 3Q26 | — | — |
NEM
AEM
AU
NST.AX
|
| Leggett & Platt | Somnigroup International | US | 13 | 10.26 | 8.76 | 9.24 | 9.79 | 9.83 | -4.2% | 10.5% | 5.6% | 0.4% | 1.5% | 5.3% | 96% | 79% | 20 | 2025-11-28 | 4Q26 | 4Q26 | — | — |
LZB
SCS
HNI
WSM
50%
MMM
DD
BERY
SEE
30%
MG.TO
LEA
ADNT
JCI
20%
|
| Stellar Bancorp | Prosperity Bancshares | US | 10 | 32.63 | 31.84 | 31.84 | 37.05 | 37.19 | 14.0% | 14.1% | 14.1% | 0.4% | 0.8% | 9.8% | 97% | 95% | 15 | 2026-01-27 | 2026-07-01 | 2026-07-01 | — | — |
RF
CFG
HBAN
|
| Two Harbors | CrossCountry Mortgage | US | 8 | 9.91 | 9.78 | 9.78 | 12.36 | 10.80 | 9.0% | 20.8% | 20.8% | -12.6% | 1.2% | 12.8% | — | 95% | 13 | 2025-12-16 | 2H26 | 2H26 | -1% | — |
NLY
MFA
CIM
IVR
|
| Sila Realty Trust | Blue Owl | US | 11 | 25.53 | 23.12 | 24.46 | 30.25 | 30.38 | 19.0% | 23.6% | 19.1% | 0.4% | 0.4% | 2.1% | 98% | 98% | 7 | 2026-04-17 | 3Q26 | 3Q26 | -6% | 1% |
VTR
WELL
MPW
OHI
|
| PALTAC | MediPal Holdings | Japan | 23 | 4,659 | 4,739 | 4,739 | 6,632 | 6,650 | 42.7% | 28.6% | 28.6% | 0.3% | 0.3% | 1.3% | 99% | 99% | 7 | 2026-05-08 | 3Q26 | 3Q26 | 5% | -0% |
GWW
FAST
MSM
POOL
|
| Talkspace | Universal Health Services | US | 5 | 4.76 | 4.76 | 4.76 | 5.21 | 5.25 | 10.3% | 8.7% | 8.7% | 0.8% | 0.8% | 3.7% | 92% | 92% | 7 | 2026-03-06 | 3Q26 | 3Q26 | — | — |
ACHC
|
| Olaplex | Henkel | US | 7 | 1.33 | 1.28 | 1.28 | 2.05 | 2.06 | 54.9% | 37.7% | 37.7% | 0.5% | 0.5% | 0.4% | 99% | 99% | 7 | 2026-03-25 | 2H26 | 2H26 | -1% | 0% |
OR.PA
SBH
ULTA
|
| Modiv Industrial | Global Net Lease | US | 1 | 14.72 | 10.82 | 11.83 | 18.13 | 18.38 | 24.8% | 40.3% | 34.7% | 1.4% | 2.5% | 6.6% | 97% | 93% | 5 | 2026-01-16 | 3Q26 | 3Q26 | -8% | -1% |
PLD
DRE
REXR
FR
|
| NSTS Bancorp | Brookfield Bancshares | US | 0 | 12.65 | 12.53 | 12.53 | 13.67 | 14.28 | 12.9% | 8.3% | 8.3% | 4.5% | 4.5% | 9.7% | 65% | 65% | 3 | 2026-05-11 | 4Q26 | 4Q26 | 2% | -13% |
HBAN
RF
CFG
|
| KalVista Pharmaceuticals | Chiesi Group | US | 42 | 19.24 | 18.52 | 18.52 | 26.95 | 27.00 | 40.3% | 31.3% | 31.3% | 0.2% | 0.2% | 1.0% | 99% | 99% | 3 | 2026-04-28 | 3Q26 | 3Q26 | -1% | 2% |
VRTX
BMRN
ALNY
RARE
|
| Arizona Sonoran Copper | Hudbay Minerals | Canada | 7 | 7.22 | 7.20 | 7.20 | 10.15 | 10.17 | 40.9% | 29.1% | 29.1% | 0.2% | 0.2% | — | 99% | 99% | 3 | 2026-02-27 | 2Q26 | 2Q26 | 14% | 53% |
FCX
CSC.AX
ANTO.L
SCCO
|
| Treatt | Dohler | UK | 0 | 2.06 | 1.75 | 1.75 | 3.02 | 3.05 | 48.4% | 42.1% | 42.1% | 1.0% | 1.0% | 4.8% | 98% | 98% | 2 | 2026-04-28 | 3Q26 | 3Q26 | -7% | 1% |
GIVN.SW
IFF
SY1.DE
4914.T
|
| First Seacoast Bancorp | Cambridge Financial | US | 0 | 11.74 | 11.63 | 11.63 | 16.80 | 17.25 | 46.9% | 30.8% | 30.8% | 2.7% | 2.7% | 13.1% | 92% | 92% | 2 | 2026-05-04 | 3Q26 | 3Q26 | 2% | 1% |
HBAN
RF
CFG
|
| Select Medical | Robert A. Ortenzio | US | 13 | 14.01 | 12.68 | 13.46 | 16.50 | 16.50 | 17.8% | 23.1% | 18.4% | 0.0% | 0.0% | 0.4% | 100% | 100% | 1 | 2025-11-24 | 2026-07-01 | 2026-07-01 | — | — |
EHC
USPH
ATIP
55%
HCA
THC
CYH
25%
UNH
DVA
FMS.DE
20%
|
| Sunny Side Up Group | Akatsuki | Japan | 2 | 1,047 | 972.35 | 972.35 | 1,316 | 1,320 | 26.1% | 26.1% | 26.1% | 0.3% | 0.3% | 1.5% | 99% | 99% | 0 | 2026-05-13 | 3Q26 | 3Q26 | 2% | -0% |
2433.T
OMC
4324.T
STGW
|
| Assertio Holdings | Zydus Lifesciences | US | 2 | 13.37 | 12.76 | 12.76 | 23.45 | 23.50 | 75.8% | 45.6% | 45.6% | 0.2% | 0.2% | — | 100% | 100% | 0 | 2026-03-20 | 2Q26 | 2Q26 | -1% | 0% |
ABBV
PFE
COLL
|
| Ryomo Systems | Mitsuba | Japan | 0 | 3,795 | 3,894 | 3,894 | 5,190 | 5,200 | 37.0% | 25.0% | 25.0% | 0.2% | 0.2% | 0.9% | 99% | 99% | 0 | 2026-05-13 | 3Q26 | 3Q26 | 8% | 1% |
ACN
NOW
WIT
KD
|
| Shinko Shoji | Kaga Electronics | Japan | 7 | 1,575 | 1,648 | 1,648 | 1,579 | 1,580 | 0.3% | -4.4% | -4.4% | 0.1% | 0.1% | 0.3% | — | — | 0 | 2026-05-14 | 3Q26 | 3Q26 | 6% | — |
GWW
FAST
MSM
POOL
|
| Anshin Guarantor Service | Muninova Holdings | Japan | 0 | 186.00 | 185.64 | 185.64 | 256.00 | 257.00 | 38.2% | 27.5% | 27.5% | 0.4% | 0.4% | 1.9% | 99% | 99% | 0 | 2026-05-12 | 3Q26 | 3Q26 | 8% | -0% |
LC
UPST
OMF
SOFI
|
| InterRent | CLV Group | Canada | 3 | 10.03 | 8.69 | — | 12.85 | 13.55 | 35.1% | 32.3% | — | 5.4% | 5.4% | 7.8% | 85% | — | 0 | 2025-03-07 | 2026-07-10 | 1H26 | — | — |
CPT
MAA
ESS
|
| Avanos Medical | American Industrial Partners | US | 64 | 14.53 | 14.30 | 14.30 | 25.00 | 25.00 | 72.1% | 42.8% | 42.8% | 0.0% | 0.0% | 0.0% | — | — | 0 | 2026-04-13 | 2H26 | 2H26 | 4% | — |
AVNT
ALLEI.ST
ITGR
SOLB.BR
|
| Aichi Financial Group | San Ju San Financial Group | Japan | 10 | 1,490 | 1,508 | 1,508 | 1,324 | — | — | -13.9% | -13.9% | — | — | — | — | — | 0 | 2026-05-12 | 2027-04-01 | 2027-04-01 | 2% | — |
RF
CFG
HBAN
|
| Cloopen | Changxun Sun | US | 0 | 1.96 | 1.58 | — | 2.06 | 2.96 | 51.2% | 23.4% | — | 43.9% | 43.9% | 95.6% | 35% | — | 0 | 2025-12-19 | 4Q26 | 4Q26 | — | — |
CRM
HUBS
FIVN
NICE
|
| BeijingWest Industries International | Luxshare Precision | Hong Kong | 8 | 4.48 | 4.94 | 4.94 | 7.05 | — | — | 30.0% | 30.0% | — | — | — | — | — | 0 | 2026-04-02 | — | — | 8% | — |
RBGLY.DE
6902.T
MGA
CON.DE
55%
BRE.MI
7238.T
CON.DE
7259.T
45%
|
| Gamma Communications | Providence Equity Partners | UK | 5 | 7.26 | 7.54 | 7.54 | 9.56 | — | — | 21.1% | 21.1% | — | — | — | — | — | 0 | 2026-04-02 | — | — | -3% | — |
VZ
LUMN
TIMB
SKM
|
| Deltic Energy | NEO Next+ | UK | 0 | 0.03 | 0.03 | — | 0.07 | 0.08 | 156.7% | 55.4% | — | 12.9% | 12.9% | 62.4% | 83% | — | 0 | 2026-04-21 | 3Q26 | 3Q26 | — | — |
COP
EOG
PXD
MRO
|
| Cordel | Vossloh | UK | 0 | 0.06 | 0.06 | — | 0.12 | 0.12 | 106.7% | 49.2% | — | 4.2% | 4.2% | 20.3% | 94% | — | 0 | 2026-05-12 | 3Q26 | 3Q26 | — | — |
WAB
ALO.PA
SIE.DE
|
| Dominion Energy | NextEra Energy | US | 307 | 61.73 | 64.35 | 68.17 | 66.87 | 70.53 | 14.3% | 3.8% | -1.9% | 5.5% | — | — | 41% | — | 0 | 2026-05-15 | 2H27 | 2H27 | 2% | -20% |
FE
POR
GNE
DUK
|
| Enhabit | Kinderhook Capital Fund 8 | US | 9 | 11.09 | 8.32 | 8.93 | 13.80 | 13.80 | 24.4% | 39.7% | 35.3% | 0.0% | 0.0% | 0.0% | — | — | 0 | 2026-02-20 | 2Q26 | 2Q26 | -4% | — |
ATT.ST
EXE.TO
ADUS
OPCH
|
| Forian | Max Wygod | US | 0 | 1.77 | 0.94 | 0.94 | 2.17 | 2.17 | 22.6% | 56.6% | 56.6% | 0.0% | 0.0% | 0.0% | — | — | 0 | 2025-08-22 | 2Q26 | 2Q26 | -3% | — |
RKDA
TEM
CRVL
PRVA
|
| NSK | NTN | Japan | 16 | 1,334 | 1,320 | 1,320 | 1,205 | — | — | -9.5% | -9.5% | — | — | — | — | — | 0 | 2026-05-11 | 4Q27 | 4Q27 | 4% | — |
6902.T
6902.T
6902.T
6902.T
60%
PH
PH
PH
PH
40%
|
| Lantheus | Curium | US | 61 | 96.09 | 92.51 | 92.51 | 96.36 | — | — | 4.0% | 4.0% | — | — | — | — | — | 0 | 2026-05-21 | — | — | -4% | — |
ROG.SW
BMY
67%
PFE
AZN
NVS
23%
TEV
4502.T
NVS
ROG.SW
10%
|
| Wecon Holdings | Triple Arch | Hong Kong | 0 | 0.26 | 0.27 | 0.27 | 0.28 | 0.28 | 7.7% | 5.6% | 5.6% | -1.8% | -1.8% | — | — | — | -0 | 2026-03-13 | 3Q26 | 3Q26 | — | — |
IDEX
ITT
FLS
TEX
|
| Nippon Dry-Chemical | ALSOK | Japan | 9 | 2,682 | 3,134 | 3,134 | 3,740 | 3,730 | 39.1% | 16.2% | 16.2% | -0.3% | -0.3% | — | — | — | -2 | 2026-04-27 | 3Q26 | 3Q26 | 11% | — |
APG
6479.T
002169.SZ
|
| United Homes Group | Stanley Martin Homes | US | 2 | 2.38 | 1.97 | 2.02 | 1.22 | 1.18 | -50.4% | -61.5% | -65.4% | -3.3% | -3.3% | 74.8% | — | — | -2 | 2026-02-20 | 2Q26 | 2Q26 | 4% | — |
DHI
LEN
PHM
NVR
|
| Kennedy-Wilson | Fairfax Financial | US | 6 | 7.47 | 7.70 | 7.70 | 11.01 | 10.90 | 45.9% | 30.0% | 30.0% | -1.0% | -1.0% | 21.8% | — | — | -14 | 2025-11-04 | 2Q26 | 2Q26 | -1% | — |
INVH
TCN.TO
AMH
50%
CPT
MAA
ESS
UDR
50%
|
| Vault Minerals | Regis Resources | Australia | 13 | 4.52 | 4.07 | 4.07 | 4.41 | 4.38 | -3.0% | 7.7% | 7.7% | -0.6% | -0.6% | — | — | — | -20 | 2026-05-01 | 3Q26 | 3Q26 | — | — |
NEM
AEM
AU
NST.AX
|
| International Personal Finance | BasePoint Capital | UK | 1 | 1.79 | 1.06 | 1.06 | 2.48 | 2.35 | 31.1% | 57.4% | 57.4% | -5.2% | -5.2% | — | — | — | -38 | 2025-07-29 | 2Q26 | 3Q26 | -10% | — |
LC
UPST
SOFI
AFRM
|
| European Lithium | Critical Metals | Australia | 4 | 0.24 | 0.22 | 0.22 | 0.47 | 0.40 | 62.6% | 53.9% | 53.9% | -16.1% | -16.1% | — | — | — | -99 | 2026-04-22 | 2H26 | 2H26 | — | — |
ALB
SQM
PLS.AX
GNENF
70%
MP
ARR
ILU.AX
PRE.L
30%
|
| Kloeckner & Co | Worthington Steel | Germany | 2 | 6.07 | 10.48 | 10.48 | 12.50 | 11.00 | 81.2% | 16.2% | 16.2% | -12.0% | -10.4% | — | — | — | -133 | 2025-12-05 | 2H26 | 2H26 | 21% | — |
NUE
STLD
CLF
MT
|
| Veeco Instruments | Axcelis Technologies | US | 30 | 30.43 | 57.66 | 58.90 | 60.31 | 56.96 | 87.2% | 4.4% | 2.3% | -5.6% | -5.6% | — | — | — | -190 | 2025-09-30 | 2H26 | 2H26 | 21% | — |
ONTO
8035.T
KLAC
ASML.AS
|
| Thermon | CECO Environmental | US | 175 | 49.77 | 52.10 | 53.96 | 61.14 | 53.64 | 7.8% | 14.8% | 11.7% | -12.3% | -12.3% | — | — | — | -216 | 2026-02-23 | 2026-07-01 | 2026-07-01 | — | — |
APH
TEL
HUBB
MLI
50%
SEQUENT.NS
ROK
HEXA-B.ST
ABBN.SW
50%
|
| Atlas Arteria | IFM Global Infrastructure Fund | Australia | 17 | 4.33 | 4.19 | 4.19 | 5.06 | 4.75 | 9.7% | 17.1% | 17.1% | -6.1% | -6.1% | — | — | — | -303 | 2026-04-24 | — | — | 1% | — |
TCL.AX
IRB.NS
JSMR.JK
1052.HK
|
| Delivery Hero | Uber Technologies | Germany | 48 | 19.20 | 16.63 | 16.63 | 39.06 | 38.00 | 97.9% | 57.4% | 57.4% | -2.7% | -2.7% | — | — | — | -355 | 2025-12-08 | — | — | 2% | — |
ETERNAL.NS
OLO
|
| Teck Resources | Anglo American | US | 197 | 35.11 | 38.32 | 38.80 | 67.82 | 54.55 | 55.4% | 43.5% | 42.8% | -19.6% | -28.0% | — | — | — | -7,118 | 2025-09-08 | 2H26 | 3Q26 | — | — |
FCX
CSC.AX
ANTO.L
SCCO
61%
S32.AX
NYR.BR
HINDZINC.NS
NEXA
39%
|
| Subsea 7 | Saipem | Norway | 9 | 181.60 | 301.06 | 301.06 | 318.40 | 28.89 | -84.1% | 5.4% | 5.4% | -90.9% | -87.3% | — | — | — | -8,736 | 2025-02-21 | 2H26 | 2H26 | — | — |
HAL
SLB
NOV
FTI
70%
DUK
SO
EXC
SRE
30%
|
| Centessa Pharmaceuticals | Eli Lilly | US | 36 | 28.70 | 26.71 | 26.71 | 39.80 | 38.00 | 32.4% | 32.9% | 32.9% | -4.5% | -4.5% | — | — | — | -100,000 | 2026-03-27 | 3Q26 | 3Q26 | 1% | — |
TEV
4502.T
NVS
ROG.SW
|
| G2 Goldfields | G Mining Ventures | Canada | 1 | 5.78 | 5.26 | 5.26 | 9.25 | 9.15 | 41.9% | 43.1% | 43.1% | -11.3% | -1.1% | 260.0% | — | — | -100,000 | 2026-04-06 | 2Q26 | 2Q26 | 6% | — |
NEM
AEM
AU
NST.AX
|
| Esperion | ARCHIMED | US | 40 | 1.91 | 1.86 | 1.86 | 3.14 | 3.64 | 65.4% | 40.8% | 40.8% | 0.6% | 16.0% | 8.3% | 98% | 72% | -100,000 | 2026-04-29 | 3Q26 | 3Q26 | -2% | 1% |
PFE
AZN
NVS
|
| PARTIES | PRICE LEVELS | TARGET PERCENTAGES | ODDS | TIMING | CHANGES | COMPS | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Target | Acquirer | Target listing | Situation type | Five-day liquidity (USD mn) | Target original | Target break | Target now | Offer | Premium | Gross downside | Gross spread | Implied gross chance of close | Undisturbed date | Target break, 1W %Δ | Implied gross chance of close, 1W Δ | Comp tickers for target |
| Revolution Medicines | Merck | US | Pre-event | 561 | 79.02 | 76.95 | 153.18 | — | — | 49.8% | — | — | 2026-01-02 | -3% | — |
GILD
AMGN
BIIB
REGN
|
| T-Mobile | Deutsche Telekom | US | Pre-event | 536 | 195.39 | 191.42 | 185.38 | — | — | -3.3% | — | — | 2026-04-21 | 0% | — |
VZ
T
VOD.L
|
| Paypal | — | US | Pre-event | 475 | 44.05 | 38.99 | 43.30 | — | — | 10.0% | — | — | 2026-02-23 | — | — |
GPN
XYZ
NAYX
55%
NU
SQ
SOFI
30%
V
MA
GPN
15%
|
| United Airlines | American Airlines | US | Pre-event | 350 | 95.20 | 107.62 | 107.11 | — | — | -0.5% | — | — | 2026-04-13 | 5% | — |
DAL
LHA.DE
AF.PA
|
| eBay | GameStop | US | Pre-event | 347 | 85.84 | 47.72 | 109.53 | 125.00 | 45.6% | 56.4% | 14.1% | 80% | 2026-02-04 | 11% | -9% |
BABA
MELI
SHOP.TO
|
| Best Buy | GameStop | US | Pre-event | 287 | 63.21 | 77.94 | 70.81 | — | — | -10.1% | — | — | 2026-03-26 | 2% | — |
7419.T
JBH.AX
HVN.AX
8282.T
88%
LOW
HD
JBH.AX
3048.T
12%
|
| Caesars Entertainment | Tilman Fertitta | US | Pre-event | 277 | 20.77 | 21.79 | 29.20 | 32.00 | 54.1% | 25.4% | 9.6% | 73% | 2026-02-25 | — | -4% |
LVS
MGM
WYNN
65%
MAR
HLT
IHG.L
H
20%
DKNG
KIND-SDB.ST
FLTR.L
888.L
15%
|
| Caesars Entertainment | Carl Icahn | US | Pre-event | 277 | 20.77 | 21.79 | 29.20 | 33.00 | 58.9% | 25.4% | 13.0% | 66% | 2026-02-25 | — | -6% |
LVS
MGM
WYNN
65%
MAR
HLT
IHG.L
H
20%
DKNG
KIND-SDB.ST
FLTR.L
888.L
15%
|
| Estée Lauder | — | US | Pre-event | 220 | 114.23 | 106.31 | 82.62 | — | — | -28.7% | — | — | 2026-02-20 | — | — |
UL
PG
4911.T
4452.T
51%
COTY
ULTA
ELF
OR.PA
31%
COTY
OR.PA
18%
|
| Norwegian Cruise Line Holdings | — | US | Pre-event w/ activist |
190 | 17.08 | 18.63 | 18.20 | — | — | -2.4% | — | — | 2026-05-11 | — | — |
RCL
CCL
VIK
|
| CooperCompanies | — | US | Pre-event w/ activist |
176 | 71.97 | 47.85 | 60.02 | — | — | 20.3% | — | — | 2025-10-17 | — | — |
ALC
BLCO
7743.T
70%
PGNY
IVF
1951.HK
VRLIFE.ST
30%
|
| JetBlue | — | US | Pre-event | 106 | 4.75 | 5.08 | 4.67 | — | — | -8.8% | — | — | 2026-03-25 | 9% | — |
LUV
RYAAY
EZJ.L
|
| Mitsui OSK Lines | — | Japan | Pre-event w/ activist |
98 | 6,276 | 7,539 | 5,459 | — | — | -38.1% | — | — | 2026-03-17 | — | — |
2343.HK
SB
KEX
9107.T
35%
MPCC.OL
ODF.OL
1308.HK
MAERSK-B.CO
35%
WAWI.OL
DFDS.CO
HOEGH.OL
30%
|
| TOTO | — | Japan | Pre-event w/ activist |
93 | 6,025 | 5,479 | 7,926 | — | — | 30.9% | — | — | 2026-02-17 | — | — |
MAS
AOS
WTS
MLI
|
| C3.ai | Automation Anywhere | US | Pre-event | 89 | 12.60 | 11.88 | 10.62 | — | — | -11.9% | — | — | 2026-01-27 | 18% | — |
PLTR
SNOW
ESTC
CLVT
|
| Abivax | Eli Lilly | France | Pre-event | 80 | 99.00 | 94.72 | 70.40 | 191.00 | 92.9% | -34.5% | 171.3% | — | 2026-01-09 | -3% | — |
GILD
AMGN
BIIB
REGN
|
| Abivax | AstraZeneca | France | Pre-event | 80 | 105.00 | 107.15 | 70.40 | 176.00 | 67.6% | -52.2% | 150.0% | — | 2025-12-09 | -3% | — |
GILD
AMGN
BIIB
REGN
|
| ABN Amro | KBC Group | Netherlands | Pre-event | 67 | 25.79 | 27.29 | 33.90 | — | — | 19.5% | — | — | 2025-09-19 | 1% | — |
HBAN
RF
CFG
|
| Teleflex | CVC Capital Partners | US | Pre-event | 60 | 124.75 | 122.94 | 127.53 | — | — | 3.6% | — | — | 2026-04-21 | 4% | — |
AVNT
ALLEI.ST
ITGR
SOLB.BR
|
| Commvault Systems | Thoma Bravo | US | Pre-event | 56 | 88.87 | 108.78 | 119.05 | — | — | 8.6% | — | — | 2026-04-10 | 11% | — |
OTEX
ORCL
SAP.DE
CRM
|
| Americold Realty Trust | — | US | Pre-event w/ activist |
52 | 10.94 | 11.66 | 14.75 | — | — | 20.9% | — | — | 2026-03-27 | -3% | — |
PLD
REXR
STAG
TRNO
|
| Telecom Italia | Poste | Italy | Pre-event | 51 | 0.58 | 0.68 | 0.73 | — | — | 7.8% | — | — | 2026-03-20 | 18% | — |
VZ
T
VOD.L
75%
ACN
NOW
WIT
KD
25%
|
| Protagonist Therapeutics | Johnson & Johnson | US | Pre-event | 49 | 67.04 | 94.59 | 94.24 | — | — | -0.4% | — | — | 2025-10-09 | — | — |
BIIB
VRTX
GILD
AMGN
|
| Nippon Express Holdings | Elliott Investment Management | Japan | Pre-event w/ activist |
44 | 3,880 | 4,072 | 5,283 | — | — | 22.9% | — | — | 2026-04-27 | — | — |
XPO
EXPD
DSV.CO
CHRW
55%
SNDR
KNX
JBHT
CHRW
30%
FDX
UPS
DSV.CO
EXPD
15%
|
| SPS Commerce | — | US | Pre-event w/ activist |
42 | 56.47 | 53.31 | 55.00 | — | — | 3.1% | — | — | 2026-05-08 | — | — |
LSPD
TOST
VYX
SHOP
|
| Fortune Brands Innovations | — | US | Pre-event w/ activist |
40 | 54.40 | 45.39 | 38.98 | — | — | -16.4% | — | — | 2026-02-02 | — | — |
JCI
MAS
BLDR
CRH
50%
JELD
TGLS
NX
INWI.ST
30%
IBP
OC
SSD
GFF
20%
|
| Intertek | EQT X | UK | PUSU w/ activist |
39 | 37.70 | 26.57 | 53.55 | 60.00 | 59.2% | 50.4% | 12.0% | 81% | 2026-04-09 | -6% | -3% |
TRI.TO
DFIN
WKL.AS
VRSK
|
| LKQ | — | US | Pre-event w/ activist |
35 | 33.77 | 34.88 | 25.56 | — | — | -36.5% | — | — | 2026-01-26 | 7% | — |
ORLY
HFD.L
9832.T
|
| Euronet Worldwide | — | US | Pre-event w/ activist |
34 | 74.33 | 70.78 | 69.89 | — | — | -1.3% | — | — | 2026-03-04 | — | — |
WU
MGI
WISE.L
RELY
35%
NAYX
GPN
ADYEN.AS
35%
V
MA
GPN
30%
|
| DCC | Energy Capital Partners | UK | PUSU | 31 | 52.05 | 51.31 | 59.70 | 58.00 | 11.4% | 14.1% | -2.8% | — | 2026-04-24 | 7% | — |
VLO
PSX
MPC
DINO
80%
GWW
FAST
MSM
POOL
20%
|
| Eastern Bankshares | M&T Bank | US | Pre-event w/ activist |
30 | 17.22 | 25.75 | 19.63 | — | — | -31.2% | — | — | 2025-10-16 | -0% | — |
HBAN
RF
CFG
|
| Whitbread | — | UK | Pre-event | 30 | 25.99 | 24.68 | 23.31 | — | — | -5.9% | — | — | 2025-12-18 | — | — |
HLT
IHG.L
H
CHH
80%
CMG
WING
HABT
JACK
20%
|
| Papa John's | Irth Capital | US | Pre-event | 23 | 36.94 | 29.58 | 30.96 | 47.00 | 27.2% | 4.4% | 51.8% | 8% | 2026-04-15 | — | — |
MCD
QSR
YUM
WEN
|
| Alkami Technology | — | US | Pre-event w/ activist |
23 | 21.10 | 15.49 | 16.58 | — | — | 6.6% | — | — | 2026-01-27 | — | — |
NOW
WDAY
TEAM
MNDY
90%
V
MA
GPN
10%
|
| BlueScope | Seven Group Holdings | Australia | Pre-event | 21 | 24.14 | 22.16 | 33.33 | 32.35 | 34.0% | 33.5% | -2.9% | — | 2026-01-02 | — | — |
NUE
STLD
CLF
MT
60%
NUE
STLD
RS
CMC
40%
|
| Inhibrx Biosciences | Merck | US | Pre-event | 21 | 84.08 | 79.02 | 93.16 | — | — | 15.2% | — | — | 2026-04-21 | -3% | — |
BMY
ROG.SW
AMGN
|
| Kinetik | Western Midstream Partners | US | Pre-event | 20 | 44.54 | 50.93 | 45.57 | — | — | -11.8% | — | — | 2026-02-18 | — | — |
MPLX
KMI
EPD
ENB
60%
VLO
PSX
MPC
DINO
40%
|
| Kakaku | EQT | Japan | Pre-event | 19 | 2,121 | 2,099 | 3,335 | — | — | 37.0% | — | — | 2026-04-22 | 6% | — |
BABA
SHOP.TO
ETSY
4755.T
70%
RHI
KFY
MAN
HAYS.L
30%
|
| Perrigo | Stada Arzneimittel | US | Pre-event | 16 | 10.56 | 11.55 | 10.28 | — | — | -12.4% | — | — | 2026-04-07 | 5% | — |
PG
PRPH
HLN
CL
|
| Ocular Therapeutix | Sanofi | US | Pre-event | 15 | 11.26 | 4.84 | 8.20 | 16.00 | 42.1% | 41.0% | 95.0% | 30% | 2026-01-09 | -4% | 1% |
ALDX
GRAY
OXUR.BR
COX.PA
|
| Ardelyx | Zydus Lifesciences | US | Pre-event | 13 | 7.80 | — | 5.48 | — | — | — | — | — | 2026-01-26 | — | — |
ABBV
TAK
75%
(25%)
|
| A2A | ERG | Italy | Pre-event | 13 | 2.43 | 2.18 | 2.21 | — | — | 1.6% | — | — | 2026-02-26 | -2% | — |
NG.L
SRE
FTS
ENGI.PA
|
| Predictive Discovery | Perseus Mining | Australia | Pre-event | 11 | 0.73 | 0.74 | 0.77 | 0.70 | -4.2% | 3.2% | -8.6% | — | 2025-12-03 | 3% | — |
NEM
AEM
AU
NST.AX
|
| Driven Brands | ADW Capital | US | Pre-event w/ activist |
9 | 12.76 | 11.39 | 13.19 | — | — | 13.6% | — | — | 2026-03-25 | -0% | — |
VVV
MNRO
BYD.TO
|
| Aberdeen Group | — | UK | Pre-event | 8 | 2.08 | 1.63 | 2.36 | — | — | 30.8% | — | — | 2026-05-05 | -12% | — |
BLK
BLK
BLK
BLK
|
| Taiyo | KKR | Japan | Pre-event | 8 | 5,428 | 5,860 | 5,055 | 4,750 | -12.5% | -15.9% | -6.0% | — | 2026-02-25 | 4% | — |
DD
APD
4063.T
MRK.DE
|
| Nanobiotix | Johnson & Johnson | France | Pre-event | 7 | 26.55 | 24.40 | 30.30 | — | — | 19.5% | — | — | 2026-03-25 | -1% | — |
GILD
AMGN
BIIB
REGN
|
| Puig | Estée Lauder | Spain | Pre-event | 7 | 15.57 | 14.19 | 15.66 | — | — | 9.4% | — | — | 2026-03-23 | -10% | — |
COTY
OR.PA
72%
COTY
ULTA
ELF
OR.PA
17%
UL
PG
4911.T
4452.T
11%
|
| Information Services | QIC | Canada | Pre-event | 7 | 44.13 | 54.42 | 50.72 | — | — | -7.3% | — | — | 2026-02-13 | — | — |
PLTR
SNOW
ESTC
CLVT
60%
OTEX.TO
DOCU
LZ
NUIX.AX
25%
ACN
NOW
WIT
KD
15%
|
| InMode | — | US | Pre-event | 6 | 15.43 | 11.70 | 13.42 | — | — | 12.8% | — | — | 2026-01-25 | — | — |
1696.HK
CUTR
VERO
80%
UL
PG
4911.T
4452.T
20%
|
| MarineMax | — | US | Pre-event | 6 | 31.00 | 31.11 | 34.41 | — | — | 9.6% | — | — | 2026-02-25 | — | — |
BC
MPX
MCFT
MBUU
60%
BC
ONEW
FR.PA
MCFT
25%
SUN
ELS
CWH
BC
15%
|
| Tate & Lyle | Ingredion | UK | PUSU | 6 | 3.75 | 3.71 | 4.93 | 5.95 | 58.8% | 24.9% | 20.6% | 55% | 2026-05-13 | -1% | -6% |
MKC
KHC
UL
THS
|
| Playtika | — | US | Pre-event | 5 | 3.20 | 3.85 | 3.27 | — | — | -17.9% | — | — | 2026-04-06 | 1% | — |
NTES
RBLX
9766.T
9697.T
|
| Spire Healthcare | Toscafund Asset Management | UK | PUSU w/ activist |
4 | 2.03 | 1.58 | 2.17 | 2.50 | 23.2% | 27.4% | 15.2% | 64% | 2025-09-16 | -11% | 2% |
HCA
THC
CYH
|
| Funko | — | US | Pre-event w/ activist |
2 | 4.42 | 3.78 | 5.18 | — | — | 27.1% | — | — | 2026-02-19 | -1% | — |
7832.T
HAS
MAT
0151.HK
|
| Bodycote | Apollo Management X | UK | PUSU | 2 | 6.97 | 7.90 | 8.14 | 8.85 | 26.9% | 3.0% | 8.7% | 26% | 2026-05-21 | 16% | -48% |
NUE
NUE
NUE
NUE
|
| PolyPeptide | KKR | Switzerland | Pre-event | 1 | 35.90 | 35.84 | 37.50 | — | — | 4.4% | — | — | 2026-04-13 | 9% | — |
IQV
ICLR
CRL
MEDP
|
| Picton Property Income | LondonMetric Property | UK | PUSU | 1 | 0.78 | 0.45 | 0.72 | — | — | 37.0% | — | — | 2026-01-12 | — | — |
WPC
VNO
ARE
BPYU
|
| Reservoir Media | Wesbild | US | Pre-event | 1 | 8.94 | 8.77 | 10.13 | 10.50 | 17.4% | 13.4% | 3.6% | 79% | 2026-02-26 | -2% | -1% |
UMG.AS
6758.T
WMG
LYV
|
| Codere | — | US | Pre-event | 0 | 8.57 | 9.13 | 9.58 | — | — | 4.7% | — | — | 2026-03-25 | — | — |
LVS
MGM
WYNN
88%
DKNG
KIND-SDB.ST
FLTR.L
888.L
12%
|
| CVC Brasil | Despegar | US | Pre-event | — | 1.93 | 1.78 | 1.51 | — | — | -20.2% | — | — | 2026-04-30 | — | — |
BKNG
TCOM
EXPE
|