A Potential Bidding War for GMS and Torrid’s Stock Price Crashes – The Special Situations Report Episode #25

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. The episode begins with a discussion of multiple deals in the works – including Brad Jacob’s newest bid for the construction products company GMS (and a potential rival bid from Home Depot) and briefly covers the since-squashed rumor that Shell would acquire its rival BP. Another important M&A headline covered in this episode include the closing of the Regulus and Novartis deal, the announced acquisition of Sage Therapeutics by Supernus Pharmaceuticals, the merger of two grocery chains, and more. The episode continues by breaking down the dilemna bondholders of Warner Bros Discovery faced regarding the planned spinoff and covers a large buyback at Vivek Ramaswamy’s Roivant. Asif and Tamanna then go onto discuss a number of fascinating buybacks, including a buyback announcement coupled with a secondary offering that sent Torrid’s stock price into free fall and a geopolitical buyback at the Indian travel company MakeMyTrip. The episode wraps up by covering a number of C-Suite transitions at companies such as Postal Realty Trust, Asana, Fastly, and FrontView REIT.

Keywords:M&A, merger arbitrage, bidding wars, Brad Jacobs, QXO, credit, bonds, covenants, insider buying, insider sales, buybacks, C-suite transitions, spinoffs, activists, failed mergers, management transitions, special situations, event-driven investing, markets, stocks