Tender Offer Likely Post‑Sale, Potential 40‑80% Upside
Tender offer potentially followed by liquidation - After a major asset sale, a tender is likely in the coming months - While not official, signs point to a full sale or wind-down - Co divested all non-core and half of core assets - Expected upside ~40–80%. https://t.co/LJsNB3COPQ
KORE Deal Surprises: 85% Bid Jump, 100% Return
Expected a $KORE definitive agreement to be struck. Did not expect an 85% bump to the original $5/shr bid. Over 100% total return since Nov'25. Remaining spread to the $9.25/share bid is just ~3%. One of the most unexpected M&A outcomes I’ve...
Special Committee Rejects Buyout, Stock Stays Flat
Special committee decision is in on $INMD. All bids were deemed inadequate, so the buyout thesis is off the table, at least for now. The stock has basically never moved from pre-announcement levels. The market was highly efficient on this one.
FTC Delays Alcon Deal, Closing Slips to H1’26
FTC compliance with the second request is ongoing in Alcon’s $LNSR takeout. Closing pushed again: now H1’26 from Q1’26 (already delayed from YE’25). With an ~18% spread to the cash offer, it’s getting harder to believe this deal closes.
Activist Demands Full Sale, Board Faces Ouster
Strategic review under activist pressure w/ ~70% upside - Prominent activist pushing for full sale + plans to replace majority of board - AGM a few months away - Stock at all-time lows (~4x EBITDA) - One seg. sale announced; board now pressured to...
VRE Buyout Offers 5% Cap Rate, Minimal Downside
Good outline of the $VRE buyout. There’s probably a small chance of an overbid here. But, to be honest, probably close to zero, at a 5% implied cap rate. But we’ll see. Downside is only ~10% and the buyer isn’t walking, so...
AGI Privatization Falters; Stock Trades Above $1 Bid
As expected, $AGI.AX privatization failed - Novomatic (67%) failed to reach 75% delisting threshold - Stock now ~15% above the A$1.00/sh bid since Sep - Activist argues for ~A$3.00/sh (likely stretched) - Novo can re-bid in a few months, overbid thesis looks enticing now.
Nelson Peltz Flags WEN Undervaluation, Potential Buyout
$WEN targeted by LT shareholder & former Chairman Nelson Peltz (13D filed). - Says shares are undervalued and strategic options incl. a buyout may be explored. - He looked at a deal in 2022 but walked. - Stock at ~8x...
Fund 1 Takes 10% Stake, Presses FNKO Sale
Fund 1 pops a 10% stake in $FNKO. Pushing for a sale of the struggling branded collectibles biz. Co trades ~5x Q3 run-rate EBITDA w/ room for further normalization. Staggered board though, so tough to see real movement unless mgmt is open to...
HZO Faces Activist Pressure, $35 Bid and Strategic Review Demand
$HZO continues to face pressure from Donerail. - Activist/bidder is opposing the CEO’s re-election at the upcoming AGM. - Donerail has reiterated its $35/share offer. - Levin Capital (~3%) is also calling for a strategic review after HZO failed to capitalize on...
ONL Rejects $2.75 Offer, Provokes Kawa Proxy Battle
$ONL is a left-for-dead small-cap REIT spin-co. - Entered a cooperation agreement with Kawa Capital (~10%) and launched a strategic review - Kawa offered $2.75/sh last year (stock ~$2.55 today) - Board rejected it as undervaluing, triggering a proxy fight from Kawa. https://t.co/UAlAiUmg9p
Oil & Gas Consolidation Accelerates; KNTK Near Deal Valuation
Consolidation in Oil & Gas keeps accelerating - $KNTK is reportedly being approached by $OXY-backed $WES. - Delaware Basin pipeline operator is up 10%+ on the news and even more ytd - Upside looks limited, any deal likely prices near the current mcap....
LIS.V Merger Arb Cuts Spread From 19% to 3%
$LIS.V merger arb worked out just as expected. Despite vocal retail opposition, shareholder approval passed easily. The spread narrowed from 19% to 3% in exactly two months following the post on SSI. https://t.co/UWBmq2fWGx
SaaS Sell‑Off Explained: Avenir’s Outlook for Recovery
Avenir Management dropped a sharp slide deck on the state of SaaS. Great perspective on the current sell-off, and what the industry could look like going forward. Sharing a few of the most interesting slides below 👇 https://t.co/miawmwOz9C
Stillwell Pushes Buybacks, Director Nomination as LSBK Climbs
$LSBK has performed well over the 6 months since Stillwell filed a 13D (+22%) Stillwell (owns ~10%) is making his next move: nominating a director for the 2026 AGM and pushing for buybacks while the stock trades below TBV. He also warned...
Propane Industry Deep Dive Reveals Hidden Value
One of the best deep dives I’ve seen recently is on the “boring” propane industry, by Emeth Value Capital. Covers regulation, supply & demand, and detailed public company breakdowns. Also part of the $SPB.TO pitch. If you like learning new industries, this...