The United States Steel and Nippon Steel Saga Continues - The Special Situations Report Episode #20

Summary:

In this episode of the Special Situations Report, hosts Asif and Tamanna Suria discuss the latest developments in the event-driven investing world, focusing on M&A activity, stock buybacks, insider trading, spinoffs, and significant management changes. They begin with yet another update to the US Steel and Nippon Steel deal, as well as a rare bump-up in deal price connected to the acquisition of Satixfy Communications. The episode continues with a few updates to spinoffs discussed in past episodes, including spinoffs at Sony Group and ABB. Asif and Tamanna then dive into Deckers Corporation, the parent company of brands like UGGs and Hoka, which recently announced a massive buyback. Other buybacks mentioned include buybacks at Xenia and Vertex Pharmaceutical, and the episode also highlights insider purchases at the health insurance giant United Health and the commercial kitchen equipment company Middleby. Asif and Tamanna conclude with a discussion of activist activity and management transitions at United Homes and Avadel.

Timestamps:

(0:00) Intro

(01:54) Key Story: U.S. Steel and Nippon Steel Deal Update

(03:54) M&A

(11:07) Spinoffs

(12:35) Key Story: Deckers Announces a Massive Buyback

(14:35) Buybacks

(16:04) Insider Transactions

(16:45) Key Story: Fascinating Insider Purchase at Middleby

(19:23) Activists

(21:31) C-Suite Transitions

(24:38) Outro

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Keywords:

M&A, tariffs, merger arbitrage, Bill Ackman, insider buying, insider sales, buybacks, C-suite transitions, spinoffs, activists, failed mergers, management transitions, special situations, event-driven investing, markets, stocks