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Inside Arbitrage Friday Wrap – Regulatory Issues Bog Down M&A

  • December 23, 2022

FRIDAY WRAP

Our list of curated tweets for the current week
Merry Christmas and Happy Holidays from the Inside Arbitrage Team

 

Special Situations

$MSFT Microsoft files response to the #FTC lawsuit challenging the $ATVI Activision Blizzard acquisition

Wow, I didn’t realise there were as many as 1,500 arbs in the business.

$JNJ completes acquisition of $ABMD

Why exactly did BDT acquire $WEBR in this tape, and - more pertinently - why did they pay $8.05 (up from $6.25 initial bid)?

Very interesting letter by Luxor Capital on the proposed acquisition of $IAA by $RBA

$TGNA The payout in cash if the deal goes through is a 19.58% return from today's price.

Canadian watchdog yet to decide on Roger $RCI - Shaw $SJR merger, to give notice ahead of decision

ForgeRock $FORG receives request (2nd) for additional info from #DOJ regarding review of the company's previously announced #merger with Thoma Bravo

$fstx got its CFIUS review extended for another 45 days

$BKI - Maxine Waters pushes for FTC robust review of ICE-Black Knight deal

$LHX $AJRD "L3Harris Announces Divestiture of Visual Information Solutions Business" (buyer is $NVEE)

$ENGH purchasing enterprise video platform $QUMU for 90 cents (US) per share $18 million

DISNEY CEO CHAPEK REJECTS CALLS TO SPIN OFF ESPN

$DIS may experience its worst year since 1974

Larry Fink’s BlackRock looked at buying Carlyle earlier this year, Goldman’s John Waldron is among the candidates to replace Kewsong Lee

iClick Interactive Asia $ICLK received a preliminary non-binding proposal from a consortium

Lionsgate CFO just bought $300k shares on the low. Given talk of M&A seemingly notable

Bryant Riley with another $4.8m open market purchase bringing year-to-date total to $39m!

The only thing investors needed to know was how much $AMC the insiders were selling even as they talked the company up.

AMC held discussions regarding a potential strategic acquisition of theaters from its rival, the bankrupt Cineworld, according to a securities filing by AMC Wednesday

C-Suite Transitions – Co-CEO Of Workday $WDAY Resigns Suddenly

Elliott disclosed a new 10m share stake in $CLVT during Q3

CarMax Reports Co. Has Paused Its Share Repurchase Program Amid Its Q3 Performance And Continued Market Uncertainties $KMX

Investing

I guess we are now at the stage of the bust where shenanigans like this start to emerge. $PLTR

Elon Musk said he would step down as CEO of Twitter when he finds a successor, amid growing calls from Wall Street for him to quit steering the social media platform

“This company is like you’re in a plane that is headed towards the ground and high speed with the engines on fire and the controls don’t work,” Musk said. “That’s the reason for my actions that may seem sometimes spurious.”

$TSLA in a free fall. Down 24% in the past month alone.

Anyone teaching a value investing class or one on investment psychology should use this memo as a treatise to study the mindset of stonk hodlers.

Yesterday, Amazon $AMZN became the first of the mega-caps to see a $1+ trillion drawdown in market cap.

The race to AI tech is speeding up in the cloud wars. Check out what this industry expert had to say about where $AMZN and $MSFT stand

I'm no ESG box checker, but between Howard, Susie, Chris, and as of today Tom, it will be 4/16 board members that are there because of the accomplishments/relationships of their father (3 of the last 5).

Most people want to be an investor But most investors don’t know how to read 10K annual reports

Everything I write isn’t really about money, it’s about time.

Housing, Autos and Retirement

Mortgage rates in the US fell for a sixth straight week, hitting a roughly three-month low

Home sales volume fell 7.7% in November and 35.4% over the last year

This morning I discovered something *extremely* alarming happening in the car market, specifically in auto lending.

The way that Americans can save for retirement is about to change significantly

 

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