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Sloane & Co. represents Cubic Corp. as the San Diego-based defense and transportation (fare collection/revenue management) systems company adopts a poison pill defense in the wake of a potential takeover bid by hedge fund Elliott Management and Veritas Capital.
Reuters reported the Cubic has held private talks with its possible suitors for a number of weeks.
Cubic says it issued a rights plan after Elliott disclosed that it has accumulated a 15 percent ownership stake. David Melcher, lead independent director at Cubic, said the company is committing to creating long-term value and ensuring that investors realize the full potential of their investment.
The rights plan “is intended to provide the board with time to make informed decisions and prevent any third party from obtaining control of Cubic in a manner and at a price that are not in the best interests of Cubic’s shareholders,” he said.
Sloane & Co’s Dan Zacchei and Joe Germani handle Cubic, which lost $60.7M on $1B revenues during the nine-month ended June period.
Stagwell Group’s SKDKnickerbocker is the parent company of Sloane & Co.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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