AES Deal Price Drops Below Market Closing High
Merger Monday…..AES Corp (AES) in deal for$15 per share …take under as it closed over $17 per share
Talon Takes Over Lundin’s Michigan Eagle Mine, Humboldt Mill
Talon acquires Lundin’s US Ni, Cu subsidiary, taking Eagle Mine and Humboldt Mill in Michigan. https://www.metalnomist.com/2026/03/talon-acquires-lundins-us-ni-cu.html
Toyota Raises TOB Price, yet Governance Remains Disappointing
Toyota Asset Preparatory Co announced it had lifted the TOB Price for Toyota Industries to from ¥18,800 to a best and final ¥20,600. Elliott agreed to tender. They made big money, but this is still a really disappointing outcome for...
L1 Group's Cost Cuts and Fund Surge Boost Appeal
A rare post about an Australian stock: L1 Group (L1G-ASX) which reverse-acquired my former employer last year, looks interesting. The stock is not optically cheap, but when you look at... 1. The run-rate cost savings (guiding to $30-$35m, ~75% of...
LBO Debt Market Faces $20B Nerve‑Testing Stress Test
The LBO debt market is freaking out. Here comes a $20B test of nerves https://t.co/MiXTnEB2pK
Sarandos Calls Paramount’s Offer Irrational, Fueled
Netflix Boss Ted Sarandos Speaks Out After Losing Warner Bros. Bid: Paramount Offers Were ‘Irrational,’ Relied on Political Pressure Because it’s ‘Cheaper to Make Noise’ https://t.co/lSMiTSgKnA
Netflix Quit Warner Bid After Paramount's Final Offer
Ted Sarandos says Netflix knew it would pull out of the Warner Bros bidding as soon as it saw the final Paramount offer. We spent 40 minutes on Saturday discussing why Netflix didn’t match and what the Paramount deal means...
Industry Complacency Fuels Ongoing Hollywood Consolidation
Want to know why consolidation keeps happening? People within industries just don’t see problems with it. A lot of the major Hollywood players are fine with the Paramount merger. https://t.co/lWXZRyUNqb
Monday Marks Final Day of Tender Offer
Re-upping this. Monday is the last day of the current tender offer. Maybe I'll put out an English version, but it's in my Cui Bono piece on Smartkarma last week.
10 Cash‑
. @Travis_Jamison is sharing his story of doing 10 acquisitions in cash-flow-positive, profitable lower middle market businesses, with some deals projected to have an IRR of 25% or more. The best part: he is only getting started. These last 10 deals...
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...
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...
Ellison Vows Unchanged DCU Creatives, Marketing Faces Shake‑up
Too early to tell, although #DavidEllison made a commitment to keep the creative heads of both WB and Paramount as they are, so if he keeps his promise, nothing changes to the #DCU or #DCStudios at least on the short...
Hollywood's $81B Takeover Sealed in Six Months
Six Months, 9 Offers and $81 Billion. How Hollywood’s Nasty Takeover Was Won. W/@jtoonkel @laurenthomas @davidamichaels https://t.co/TFOmN7A5Zq
David Ellison Secures $2.8B Warner Bros. Deal Over Netflix
Power, politics and a $2.8-billion payout: How Paramount's David Ellison topped Netflix to win Warner Bros. Discovery. @latimes https://t.co/6HgvA4tXeH
Paramount Wins Antitrust Battle, Faces Junk‑Debt Merger Challenge
"In a world in which antitrust has become a political weapon, Paramount had the upper hand. Its reward means it will now have to combine two companies whose debt is junk-rated and find a media business model that works." https://t.co/Lx1hXs4Ijz...
Record $7 B Reverse Break Fee Tops All Deals
We have a new record, folks. $PSKY's now friendly acquisition of $WBD comes with a $7 billion reverse break fee - the largest in history. https://t.co/GNoyWI0tl0
FCC Approves Merger of Charter and Cox
"The Federal Communications Commission has given the go ahead for two of the US' biggest cable providers, Charter Communications and Cox Communications, to merge." via @engadget https://t.co/2GF4W9NFlt
Paramount's Survival Hinges on Deal, Ellisons' Influence
There is always a chance when government is involved, never rule this out. But I still see the odds in #Paramount’s favor for 2 reasons: 1- the Ellisons are one of the richest and most well connected families in the U.S. 2-...
Paramount's Bold Move Beats Netflix, Secures Warner Bros.
‘David Ellison Scares the Shit Out of Me’: How Paramount Beat Out Netflix, Won Warner Bros. and Will Change Hollywood Forever https://t.co/Pt6DwlK7fc
Global Collaboration Chronicles Historic Deal Battle
Takes a global effort to tell one of the most incredible deal battles in modern history With @DanielThomasLDN @mroliverbarnes and Chris Grimes https://t.co/OfRP3RBlGV https://t.co/Wx8RaqAIv0
Warner Boards Unanimously Approve WBD‑PSKY Merger
Warner says in SEC filing that 'The boards of directors of WBD and PSKY have unanimously approved the Merger Agreement...'
Judge Andrews' Delay Feels Like Being the Last Pick
Waiting for Judge Andrews to make his $LQDA decision is like being the fat kid waiting to get picked only after the captains have picked everyone else first... https://t.co/LtzJmQ7O7t
Paramount Pays Netflix $2.8 B Breakup Fee for WBD Deal
Netflix Says Paramount Has Paid $2.8 Billion Breakup Fee for Warner Bros. Discovery Deal https://t.co/tPYGdECLW7
From Hollywood’s Most Hated to $790M Dealmaker
Three years ago, David Zaslav was called "the most hated man in Hollywood." Now he's pulled off one of the biggest deals in media history, engineering a bidding war that earned him $790.5 million. How it all happened, with @LaurenSHirsch: https://t.co/jaz2VIbdCe
Paramount Pays Netflix $2.8B Termination Fee for WBD Deal
Netflix, in SEC filing, says Paramount 'on behalf of WBD, paid the $2,800,000,000 termination fee owed to Netflix in accordance with the terms of the Merger Agreement.'
David Ellison Secures Warner Bros Deal After Netflix Backs Out
Last Saturday, Netflix was the heavy favorite to buy Warner Bros. What changed? How did David Ellison pull it off? Why did Netflix back off? Behind the scenes of one of the biggest deals in business history with @MichelleF_Davis and @joshua_sisco...
JPMorgan, Not Stripe, Seen as Viable PayPal Buyer
.@ShenLucinda argues that Stripe isn't a logical buyer for PayPal. But JPMorgan may be. https://t.co/5mg3m05s44
Revenue Growth Trumps Profit as Companies Form Interlinked Borg
I take @sama point on circular dealmaking concerns -- that the revenue growth is key metric. And will leave profit concerns for another day. But also true that these companies are becoming something of a borg. If one goes down, it's...
Warner Execs Stunned by Paramount Deal, Consider Sale
Warner Town Hall: Management sounds shell shocked about the Paramount deal. Do they really want to sell? https://t.co/XWnrLMB7zM
Charter Ends DEI, Pushes Cox Merger and Onshoring
NEW Charter tells @BrendanCarrFCC that it ended DEI, as it continues to pursue its merger with Cox: https://t.co/s4uJ8LIA1d Charter also said it will do some onshoring: https://t.co/JqEELKcoU4 $CHTR
Paramount‑Warner Merger Unites Film, News, and Social Media
Paramount, Warner Bros deal would unite film, news and social media forces in the age of Trump My analysis for NPR: https://t.co/zsdkP7wB8K
CNN Staff Fear Sale to Paramount Amid Shaky Stewardship
Anderson, cooped. Jake, tapped. Erin, burnt. Kasie, hunted. Wolf, blitzed. Fears are running high among CNN staff after parent company Warner cleared the way for a sale to Paramount, which has been a shaky custodian of its own journalism assets https://t.co/c3LvI7HQXl
CNN Staff Fear Warner‑Paramount Merger Will Damage Journalism
CNN Staffers Fear Warner Bros.-Paramount Deal Will Hurt Their Journalism and Network’s Financial Health https://t.co/c3LvI7Hj7N via @variety
Acquired Nextivity’s HPUE Line to Boost AirG Portfolio
"I'm excited to announce that we recently acquired the HPUE or High Power User Equipment product line from Nextivity." https://t.co/qJSVIM8AGg $AIRG
Deal Secures Beloved IP, Expands Monetization, Locks AI Control
The Paramount-Warner Bros. Discovery Bros. deal can be best understood through four objectives. 1. Buying IP that audiences already love — because nobody builds DC or Harry Potter from scratch. 2. Protecting valuable IP—after this deal closes, Netflix will lose "fat tail"...
Massive Media Mergers Keep Missing Value Creation
AT&T paid $85.4B for Warner Bros. and failed to create value. Disney paid $71.3B for Fox and has struggled to consistently wring value out of it. Discovery paid $43B for Warner Bros. and failed to create value. Paramount will pay $111B...
Paramount Gains, Ellisons Burdened by Massive Debt
Who really won in Paramount’s acquisition of Warner Discovery? Plus new details on the mountain of debt awaiting the Ellisons. My debate with Bill Cohan @PuckNews ⬇️⬇️ https://t.co/xl4sfxLQQD
California May Counter Warner‑Paramount Merger with Robust State Law
California legislators could hit back at the Warner-Paramount deal by passing a strong state level merger law.
Major M&A Moves: NATL, KORE, RNA/NVS Deals Announced
Today's M&A notes $NATL to be acquired by $BCO for $30.00 cash + 0.1574x shares, 22.6% premium, $6.6 billion $KORE to be acquired by Searchlight Capital / Abry Partners for $9.25 cash per share, 132.4% premium, $726 million $RNA / $NVS deal closed https://t.co/J7D2HirSUh
Ellisons Pull Off Record LBO of Warner, CNN
The Ellisons nab Warner and CNN in the biggest leveraged buy-out in history. Who's going to run it? https://t.co/KOQeZ3NQTy
Deal Masks Circular Financing, Smells Like Ponzi
It’s not actual cash raised, this deal adds to the thicket of circular financing from the biggest companies in the worlds. A whiff of Ponzi.
Trump's Spin‑off Could Turn Company Into Bitcoin, Nuclear Gamble
Trump is considering spinning off Truth Social, so now his company theoretically would be a Bitcoin stockpile (likely underwater) and the nuclear fission bet.
PE Shifts From Legend Deals to Low‑Margin Rollup Frenzy
PE in 2009: We tried to be legends but got jammed (Caesars, NXP, IntraWest) PE in 2026: Wheels are coming off our janitorial, car wash, dental clinic and gritty Glengarry glenross-esque insurance brokerage rollups. One fund spotlights PEs problems https://t.co/O0PB4vXT6T
Washington Hasn't Demanded Station Sales for Nexstar‑TEGNA Merger
D.C. Memo: Nexstar CEO Sook – Washington Has Not Said Company Needs to Sell Stations to Close TEGNA Deal | $NXST @NXSTMediaGroup $TGNA @TEGNA https://t.co/md3Cz4tI5F
Warner Bros. Gains 78% Stock Surge After Hollywood Merger Battle
Hollywood's mega-merger battle ends with Warner Bros. as the real winner with a 78% stock bump since September - https://t.co/Ue55w8GTQk
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.
Glencore Expands Cusco Copper Hub with Quechua Acquisition
Glencore buys Quechua in Peru to strengthen its Cusco copper hub around Antapaccay and Coroccohuayco. https://www.metalnomist.com/2026/02/glencore-acquires-quechua-copper.html
Analysts Often Overlook State Merger Review Powers
Even people who write about mergers for a living, have a way of forgetting about the states and their merger review powers https://t.co/txf7WOgAjH
Sarandos Missed Industry‑changing Deal, Netflix Still Ahead
I’d say yes overall, but arguments can be made to the opposite as well. In #TedSarandos case for instance, truth is that #Netflix didn’t need WB, it’s already miles ahead of everyone else even without WB. And he walks away with...