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InsideArbitrage Potential Deal Alert: Activist Engine Capital pushes Avantax (AVTA) to explore options

  • June 5, 2023


Date Announced06/05/2023Source Press Release
TypeCompany Seeking Strategic Alternatives
Date of Confirmation: 09/11/2023Price at Confirmation: $25.58
Potential Profit: 15.43%Annualized Profit: 57.48%

Engine Capital issues letter to the board of directors of Avantax (AVTA) regarding the immediate need to explore strategic alternatives.


July 11, 2023: According to Bloomberg, Avantax (AVTA), a provider of wealth-management software and services, is exploring options including a potential sale.

September 11, 2023: Avantax, Inc. (AVTA) and Cetera Financial Group, the premier financial advisor Wealth Hub, announced that Avantax and Aretec Group, Inc. d/b/a Cetera Holdings, the holding company of Cetera, have entered into a definitive agreement whereby Cetera Holdings will acquire all of the issued and outstanding equity of Avantax in an all-cash transaction valuing Avantax at approximately $1.2 billion, inclusive of Avantax’s net debt.

Avantax stockholders to receive $26.00 per share in cash.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.