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Cranberry Journal

Wednesday, November 4, 2026

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At the close · Nov 4

Take-Private

Tagged stories

A Wendy's restaurant with a stone and stucco exterior, red patio umbrellas and a single grey car parked in front, under a clear blue sky.
Business

Trian Has Offered $7.35 a Share to Take Wendy's Private, About $1.4 Billion. That Is Roughly Half the $2.7 Billion of Debt the Bidders Would Keep.

Nelson Peltz's Trian Fund Management and Flynn Group, one of the largest Wendy's franchisees, proposed on 28 October to buy the shares of The Wendy's Company they do not own for $7.35 each in cash, about 20 per cent above Tuesday's close. On the 194.0 million fully diluted shares the letter assumes, that is about $1.4 billion. The proposal is non-binding and nothing has been signed.

By Daniel Okafor  

An empty operating theatre with a padded surgical table under a ceiling-mounted surgical light, flanked by two wall monitors, equipment carts, an anaesthesia unit and a blue gas cylinder, under white ceiling panels.
Health

A Catholic Hospital System's Affiliate Will Pay $23.50 a Share for Surgery Partners, a 49 Per Cent Premium. Bain Capital Offered $25.75 Last Year and Is Keeping Its Stake.

HealthSpan Partners, an affiliate of the Cincinnati-based Catholic health system Bon Secours Mercy Health, agreed on 26 October to buy Surgery Partners for $23.50 a share in cash, in a deal valued at about $5.7 billion including debt. Bain Capital, which owns about 39 per cent, will roll its shares into the buyer. The deal needs a vote of disinterested shareholders and regulatory approval, and is expected to close in the first quarter of 2027.

By Thomas Gutierrez  

Yellow fibre-optic patch cables plugged into rows of green connectors in a network cabinet.
Technology

Thoma Bravo's Proofpoint Will Pay $6.3 Billion in Cash for Varonis at $49.75 a Share. The Premium Is 52 Per Cent Against June and 17 Per Cent Against September.

Proofpoint, a Thoma Bravo portfolio company, agreed on Thursday 15 October to buy Varonis Systems for $49.75 a share in cash, a deal valued at about $6.3 billion. Varonis would owe a $211.7 million termination fee in some cases; Proofpoint would owe $423.3 million in others. Closing is expected in the first half of 2027 and needs a Varonis shareholder vote and regulatory approvals.

By Alison Acosta  

The rusted, dented rear bumper of an old vehicle parked on a cobbled street.
Business

A GTCR-Led Group With Elliott Will Take CCC Private at $7.75 a Share, a $6.1 Billion Enterprise Value. Its Chief Executive and President Are Rolling Over Part of Their Stakes.

CCC Intelligent Solutions said on Thursday 15 October that a consortium led by GTCR and including Elliott Investment Management will buy it for $7.75 a share in cash, an enterprise value of about $6.1 billion. The price is about 44 per cent above the 9 July close. The deal needs a stockholder vote and antitrust clearance and is expected to close in the first quarter of 2027.

By Margaret Holloway  

A row of new dark SUVs parked on a dealership lot at dusk.
Business

Penske Automotive Agreed to Be Taken Private at $212 a Share, a $16.3 Billion Enterprise Value. The Premium Is 8.8 Per Cent, and Its Two Buyers Are Also Its Two Largest Holders.

Penske Automotive Group said on Thursday 15 October that it will be acquired by Penske Corporation and Japan's Mitsui & Co. for $212.00 a share in cash, an enterprise value of about $16.3 billion. The price is 8.84 per cent above Wednesday's close and $2 above the $210 the buyers proposed in July. The deal needs regulatory approval and two shareholder votes, and is expected to close in the first quarter of 2027.

By Margaret Holloway  

A hand holds a smartphone whose screen shows a pink heart pierced by an arrow, against a green textured fabric.
Business

Bumble Agreed to a $1.3 Billion Cash Buyout at $6.05 a Share, a 138 Per Cent Premium. Its Public Shareholders Will Not Get a Vote.

Bumble said on Tuesday 13 October that it will be acquired by Ithaca Holdings for $6.05 a share in cash, a deal it values at $1.3 billion. The price is about 138 per cent above the stock's close on 9 October. Affiliates of Blackstone and founder Whitney Wolfe Herd approved the deal by written consent after it was signed, so public shareholders will not vote; regulatory approvals are still required.

By Alison Acosta