SAP Expands Data Platform with Dremio, Prior Labs Acquisitions
.@SAP acquires @Dremio, @PriorLabs as it builds out its data platform plan https://t.co/78ISBnRjAP SAP said it will acquire Dremio, an open data lakehouse player, in a move that aims to use SAP Business Data Cloud combine SAP data with non-SAP data.
Musk’s Partial Win Could Delay OpenAI’s IPO Plans
The stakes are high—even a partial win for Musk could set OpenAI back as it reportedly plans to go public this year.
Burry's GameStop‑eBay Praise Misread as Oversimpl
Think this headline is a biiiiiiit of a misread or at the very least a drastic oversimplification of Burry’s thoughts on the proposed tie-up. *BURRY SAYS GAMESTOP BID FOR EBAY 'MAKES PERFECT SENSE' $GME $EBAY More here: https://t.co/LM9ZfauUTs
GameStop's $55.5B eBay Bid Dilutes Shareholders
GameStop just offered $55.5 billion for eBay $GME down 9%. $EBAY up 6%. The market is saying: "eBay shareholders got a great deal. GameStop shareholders got robbed." Here's why: $GME is paying $125 per share - 46% premium - half in cash, half in...
UWMC Reenters Bidding War with $12 Offer
$UWMC said they never wanted $TWO after being rejected. A month later, they're back with a higher bid. New offer at $12/share, fully cash or stock. Above CrossCountry's increased cash bid of $11.30/share. One of the most bizarre setups I've seen recently....
BASF’s Q1 Investment Spike Reveals €124M AgBiTech Purchase
A look at the AgBiTech Acquisition by @BASF. In Q1 2026 BASF announced the acquisition of AgBiTech. One thing to note from their report is the “Investments” line. The AgBiTech acquisition was finalized in Q1 and investments were up ~€120 million...
OnEMI Technology IPO Closes Tomorrow – Final Decision Ready
Mainboard IPO closing tomorrow : OnEMI Technology ⚡ Latest GMP : Zero to 1% Closing: 5th May (tomorrow) Issue Size : 925 Cr. Retail Portion : 35% Offer Price : 162 - 171 Lot Size : 87 My Final Decision - Tomorrow ✅ Till then stay connected....
Ryan Cohen Details Gamestop's $eBay Acquisition Bid
The FULL Gamestop $GME Ryan Cohen interview from this morning on @cnbc re: bid for $EBAY...16+ minutes in length...link below 👇 @gamestop @eBay
GameStop CEO Admits $14B Shortfall, Never Approached eBay
Andrew Ross Sorkin tries and fails to drag GameStop CEO Ryan Cohen through the details of his own proposal to buy eBay. The meme stock exec says he didn't approach eBay about the deal before announcing it and he's currently...
Cohen Proposes GameStop Issuing Stock to Acquire eBay
Ryan Cohen tells CNBC GameStop could issue more stock to buy the much larger eBay: CNBC $GME $EBAY
Biotech's Flexible Paths: From IPO Plans to Sale
Interesting things about this which show the plethora of options biotechs have: - assets originated out of China - management team that sold a prior company (RayzeBio) - Had geared up to go public via IPO - Pivoted to a Reverse merger with a...
Fermat Backs ADB's Inaugural Catastrophe Bonds for Kyrgyzstan, Tajikistan
Fermat Capital Management has invested in the Asian Development Bank’s first-ever catastrophe bonds, designed to shield Kyrgyzstan and Tajikistan against specific types of natural disasters https://t.co/JQ1cwhqjzw
Framework, Not Capital, Stops Most Roll‑Up Starts
the roll-up in 5 levels: level 1: buy 1 business level 2: buy 3 competitors level 3: regional dominance level 4: national holdco level 5: significant exit most never start level 1 not from lack of capital from lack of framework
PE Fuels $1.5B Anth
Macro: PE demand backs Anthropic $1.5B JV with Blackstone & Goldman. Key: $300M anchors, $150M GS; Risks: execution, valuation, regulation. Trade: buy select AI names. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Buffett's GS Preferred Deal Outshines AIG Collapse
The funnier thing about this is ~8 short years later $AIG would implode while Buffett would get a 10% preferred off of $GS with a 10% call premium and warrants that instantly went into the money the minute the deal...
HP Seals $19 Billion Takeover of Compaq, Reshaping PC Industry
#ThisDayInTechHistory. May 3, 2002. @HP completes $19 Billion buyout of Compaq Computer. #Computer #History https://t.co/xZGkwYMZsw
SpaceX IPO Numbers Reveal Hype‑Driven Grift
In today’s business and investing world, the hype and the grift have merged. And the fairy tale power numbers in the @SpaceX IPO are a perfect example of that merger. My latest: https://t.co/EuBKYRFnWh
Berkshire’s New Leaders Face $400 B Deployment Dilemma
Now that Warren and Charlie are no longer running the company... what do you think Berkshire Hathaway and the new management team should do with their $400+ billion of cash? $BRK $BRK.A $BRK.B I joked last year that $BRK should...
Learn Acquisition Skills Without Capital: 9 Essential Tools
9 skills that create serious acquisition operators: – cold outreach – deal sourcing – reading P&Ls – seller psychology – structure engineering – negotiation – timeline control – integration – knowing when to walk none require capital all are learnable
Bolt Secures $150M, Investors Demand Profitability First
SCOOP: CEO Ryan Breslow told staffers of "super app" Bolt it has signed term sheets for $150 million in new investments, but that investors want to see Bolt "hit profitability and get back on the path to hyper-growth before the...
Buy Turpaz: Phoenix Deal Boosts US Footprint
Macro: Turpaz expands US via $95M Phoenix acquisition. Key: $36.8M rev, $6.9M adj EBITDA, $2M synergies, strong liquidity. Risk: integration & rich valuation. Trade: buy the consolidation. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Union Pacific Threatens to Abandon NS Deal over Regulator Demands
UP will walk away from its proposed acquisition of Norfolk Southern if federal regulators order widespread trackage rights or line sales as part of their approval of the deal. https://t.co/TaAktc4oJN
Turn Healthcare Roll‑Ups Into 2‑X Returns Without Personal Capital
the healthcare roll-up nobody talks about: buy at 4–5x EBITDA combine into platform sell to PE at 10–12x i run a multi 7 figure healthcare org built this way vendor financed zero personal capital
AI IPOs Demand Operational Discipline Over Innovation
Going public is the easy headline. Becoming IPO-ready is the real test. Sarah Friar is tasked with turning rapid growth into a disciplined, scalable business while managing expectations around one of the biggest potential listings. The shift is clear. AI leaders now...
Zero Capital, Vendor‑Financed Deals Scale Healthcare Acquisitions
healthcare acquisition proof: my multi 7 figure organisation: – vendor financed every deal – zero personal capital – off market sourcing only my radiology friend: – $200M exit – zero personal capital the structure works in every healthcare vertical
Spirit's Debt Crisis Undermined Value, Merger Might Have Helped
Was Spirit Airlines Roomba-ed®? Did debt levels make Spirit walking dead? Would the JetBlue merger have made the end less painful for employees of Spirit and Spirit shareholders/debt holders? Did Spirit have any pricing power? Anyone. Anyone. Bueller?...
Choosing Between OpenAI and Anthropic: Long‑Term Bet
OpenAI and Anthropic both IPO. You have $100k to invest in only one of them and you’re going to let it ride for the next 5 years. Which one are you investing in, and why?
History Will Call Biden's Spirit‑JetBlue Block a Mistake
.@SecDuffy: History judges the Biden decision to reject the Spirit JetBlue merger in 2024 as a "massive mistake" https://t.co/HCxk8WgdOD
SPAC IPO Frenzy Stalls: Poor Performance, Few Deals
The recent deluge of SPAC IPOs is a baffling because: 1. They haven't traded well (see below) 2. There's been a lack of merger announcements (particularly high quality deals) 3. Despite the surge in speculative stocks last month, most SPACs are stuck in...
FSK Trades at Half Book Amid Massive Losses
The $FSK setup: > Stock at $10.51 vs. $20.89 reported NAV > $517M in realized losses over five quarters > PIK at 34% of NII > 21 names on non-accrual > Bonds got downgraded to junk Stock trades at ~0.54x of book while...
Lender Concessions Halve as Redemptions Surge
Direct lender concessions just collapsed. Q4 2025: 67% of lenders made borrower-friendly concessions to win deals. Q1 2026: 31%. The discipline showed up the moment the redemptions started. Funny timing. Source: William Blair
Spirit Faces Shutdown After Judge Blocks JetBlue Deal
Inspired: U.S. District Judge William Young famously wrote "To those dedicated customers of Spirit, this one's for you" in his January 2024 ruling blocking JetBlue’s $3.8 billion acquisition of Spirit Airlines. Now Spirit is preparing to cease operations.
ARCH Backs Mental‑health IPO, Celebrating Early Investment Success
Congrats to Daphne Zohar and team, and Steve Paul for an amazing IPO to fuel new drugs for mental health and brain disorders. ARCH invested early here because of the team, platform, and clinical need.
Biotech IPOs Surge, Exposing Wall St Underestimation
Three biotech IPOs this week. Each one raised its number of shares and priced atop range. Suggests that Wall St is slightly underestimating investor interest in new biotech issues.
Meta's $96B Bond Demand Amid 8.6% Stock Drop
fun when bond and stock investors say different things Meta fielded $96 billion in orders for its $25 billion bond sale yesterday as shares sold off by 8.6% post-earnings https://t.co/gYzRG1K7Mr
Insider Timeline for SpaceX IPO and Index Arbitrage
Very important info on SpaceX IPO timing and potential index arb schedule from a quiet legend in the hedge fund space @MunchingMoez
Explore 19th‑Century Railway Bond Boom in New Podcast
If you’re interested in a sneak preview of my upcoming book A FABULOUS DEBT, we recorded a whole podcast on one of the chapters — the stupendously large 19th railway bond boom, the Panic of 1873 and the fall of...
Uber Reportedly Acquires Hong Kong’s FlyTaxi, Details Unconfirmed
Sing Tao Daily reports Hong Kong taxi app FlyTaxi has been acquired by Uber. The Next Web says the transaction has not yet been independently confirmed by Uber or FlyTaxi and the financial terms have not been disclosed in the available...
Reverence Capital Secures $2B Osaic Recap with Top Investors
Reverence Capital closes $2bn Osaic recap, drawing in Ares, Lexington, and Bain Capital Read more here: https://t.co/0VcHyKoq7B https://t.co/CFLnBR7rBK
AEG Management Undervalues Shares, Angers Investors
Management of #AEG should be very proud for shafting shareholders . Issuing stock at completely the wrong price 😡😡😡
EUR.AX Poised for Upside if Merger Stalls
This is a bit more speculative than I normally play but I have a med sized position in $EUR.AX (pending merger w/ $CRML). I think there's a pretty decent likelihood the original deal gets bumped (or you see a third party)...
Starcloud Eyes $2.2B Valuation Amid SpaceX Interest
Starcloud in Talks for $2.2 Billion Valuation as SpaceX Stirs Interest — The Information https://t.co/x8wmuzDcmW
US Wealth Overleveraged as S&P Pushes Faster Mega IPOs
Smoking in the Dynamite Shed The US economy and household wealth are way, way, I mean WAY dangerously levered to the stock market, and now this? *S&P MULLS INDEX RULE CHANGES TO SPEED UP ADDITION OF MEGA IPOS.
SpaceX Loaned Itself Money at High Rates for Musk
The real issue here is that SpaceX itself was borrowing the money to give to Musk, via the Nov 2018 leveraged loan priced at LIBOR+4.25%, far above the rate he was paying SpaceX https://t.co/hRcoplhKVQ
April Lev Loans Fall to Lowest Since Blackout
$25B of lev loan issuance in April (~15% below March). Lowest run rate since the post-Liberation Day blackout.
ASRT Offer Launch Delayed Until Monday, Docs Incomplete
$ASRT offer launch got extended to Monday, right after the window-shop period expired. Either new interested parties showed up, or, a simpler explanation, Asserio/Garda just haven't finished the tender docs in time and need a few more days. We'll see soon.
Thursday Links: Hedge Volatility, SpaceX IPO, Rising Hyperscaler Capex
🆓 Thursday links: avoiding volatility, the SpaceX IPO, and soaring hyperscaler capex. https://t.co/vT9QNtLhAY image: https://t.co/twlPXP3nSP https://t.co/Oyb0ozEfTu
Targeting the Underserved Turned NetZero Into a Nasdaq Star
Back in 1999, I met Mark Goldston through Jennifer Fonstad. We became friends instantly. Mark saw something most people missed: America Online was only going after the high-end user. The low-end of internet access was completely ignored. He called it "Joe Sixpack." I called...
Pearl Abyss Sells CCP Back at $305M Loss
Crimson Desert studio Pearl Abysss (publicly traded in Korea) is finally selling Eve Online studio CCP (based in Iceland) back to its management. Selling price: US$120M. Buying price in 2018: US$425M. There were rumors about such a deal swirling last year already.
80/20 Debt-Equity Mix Boosts Utility Durability
Moving all of the utilities to 80% debt and 20% equity is more durable than reducing their ROE. You can do it with the 1706 financing program at LPO like Georgia Power just did.