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Inside Arbitrage Friday Wrap – M&A Activity Heats Up

  • December 16, 2022

FRIDAY WRAP

Our list of curated tweets for the current week

 

Special Situations

 

$HZNP $AMGN deal shifts M&A this year into positive territory

$COUP, a leader in Business Spend Management, has entered into a definitive agreement to be acquired by Thoma Bravo

$COUP take-private underscores an interesting (& kind of contrarian) IR shift

Weber takes $3.7B buyout offer from BDT Capital

$MAXR $ASTS $PL Agree w/ the analyst here that public markets prices have detached from reality of opportunities in space.

Amazon offered $1.7B($61/share) cash to buy iRobot in August

$irbt watching the past couple of weeks bleeding.

Microsoft's not going to back down

I'm disappointed that the FTC didn't give us the opportunity to even sit down with the staff to even talk about our proposal to even see if there was a solution there

Jana Partners(which just sold part of its stake)tells $FRPT it plans to run for board seats in 2023

List of potential acquistion targets from Stifel that are >15% revenue growth, trade under 8x out-year revenue, and have an EV under $10B that could make them attractive targets

Musk has sold four tranches of shares worth a total of almost $23bn since announcing his takeover of Twitter.

$5 million purchase from $SOFI CEO Anthony Noto filed today

Big congrats to @ProfAnalytics for work that heavily influenced the @SECGov 's 10b5-1 reform today.

Southwest Gas Holdings $SWX to pursue a spin-off of its wholly owned subsidiary, Centuri Group

$WBD expects to incur about $1bn more in pre-tax restructuring charges than originally estimated in October.

Kellogg Company Authorizes New $1.5B Share Repurchase Program to Replace Previous Program Concluding in June 2020

Investing

Every market valuation is a number from today multiplied by a story about tomorrow, and the stories change much faster than the numbers

The compute costs are eye-watering

Hanesbrands has fallen so much that its dividend is now yielding 9.4%.

I want to build a working thread of the best timeless investing content on the internet.

Inflation

Terrific CPI report. Can't do much commentary but wanted to share charts so you can see the data yourself.

Core CPI rose by only 0.2% in November, which is yet another positive (disinflationary!) surprise!

Powell: The last two CPI reports show "a welcome reduction in the monthly pace of price increases"

So now it seems like the laser focus on inflation should moderate and the market becomes a referrendum on how deep the recession will be.

The ECB is not pivoting, we are here to keep policy tight for the long run

Housing

Housing Bubble Is Popping

Harrowing end to $rh call where Gary says there’s no soft landing in housing, it’s crashing.

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