Cano Health Shares Soar on Humana and CVS Buyout Rumors

Primary care provider Cano Health’s stock rose sharply late Thursday, $CANO soared over 50% after WSJ reported Humana (HUM) and CVS Health (CVS) and other possible suitors are hovering with a possible deal in the next several weeks citing sources familiar with the negotiations. Bloomberg reported separately that Cano is working with financial advisers and CVS is weighing a potential bid. Last month Owl Creek Asset Management, which owns a 3.75% stake of 8.69 million shares urged the company to … Continue reading “Cano Health Shares Soar on Humana and CVS Buyout Rumors”

Pinterest Stalked by Activist Investor Elliott Management

Pinterest stock jumped to 20.25 +2.69 or +15.3% after the WSJ reported that activist Elliott Management Corp. has built a stake of over 9% in the company to become the biggest investor in PINS. The once hot social-media company that Paypal had eyes on much higher, though $PYPL backed out after the payments company’s shareholders balked. Now like many social media companies it has a decline in users and faces other challenges from a collapsing stock market and economy. Elliott has been in … Continue reading “Pinterest Stalked by Activist Investor Elliott Management”

Market Savages Unity Software Merger with App-Monetization Platform Provider ironSource

Unity Software has agreed to an all-stock merger deal, valuing ironSource at roughly $4.4 bln, a 74% premium to the 30-day average exchange ratio, ironSource $IS was up 51% from the previous day close, though still trades around 75% below record highs set in September. Unity is trading at 8x forward sales, the company operates in priced-to-perfection territory given the current rising-rate environment. The market took harshly to the deal knocking $U down -17% to near the all-time lows seen … Continue reading “Market Savages Unity Software Merger with App-Monetization Platform Provider ironSource”

Global Leveraged Loan and High Yield Markets at Standstill as Debt Sales Collapse

The glaring instability of the world’s financial markets with interest rates soaring, global currency markets quivering as central banks aggressively tighten monetary policy to temper persistently hot inflation. That is the story line but in reality, the central banks are trying to catch up to bond markets and have lost control through years of loose policy. Inflation is supply driven, the result of political and central bank mismanagement who are all about shifting blame. Underwriters are sitting on debt while … Continue reading “Global Leveraged Loan and High Yield Markets at Standstill as Debt Sales Collapse”

Zendesk Closes $10.2 billion All-cash Acquisition After Soared Over 60 percent on Buyout Deal Talk

Zendesk closed a $10.2 billion all-cash acquisition deal with a group of buyout firms led by Hellman & Friedman LLC and Permira as rumored Thursday after market. Under the terms of the agreement, Zendesk stockholders will receive $77.50 a share, a roughly 34% premium to Thursday’s closing price of $57.95. Premarket $ZEN soared as high as $91, the stock had soared after hours Thursday after the WSJ reported that it was “close to a deal with a group of buyout … Continue reading “Zendesk Closes $10.2 billion All-cash Acquisition After Soared Over 60 percent on Buyout Deal Talk”

Canes Midstream Expands Oil and Natural Gas Portfolio with Acquisition of Cogent Midstream in Southern Midland Basin

With natural gas hitting highs not seen since 2008 and WTI crude oil around $115bbl the Dallas-based portfolio company of EIV Capital and Denham Capital, Canes Midstream LLC closed on the acquisition of Cogent Midstream LLC. The Cogent assets are located in the southern portion of the Permian’s Midland sub-basin. The Cogent system spans 10 Texas counties, with most of the infrastructure located in Reagan and Irion counties.  The acquired assets include 520 million cubic feet per day of processing … Continue reading “Canes Midstream Expands Oil and Natural Gas Portfolio with Acquisition of Cogent Midstream in Southern Midland Basin”