⁠InsideArbitrage
$PINC Premier Inc.👇👇

Significant progress in share repurchase since the $1 billion share buyback announced in Feb 2024...

▪️ November 6, 2024: The company completed its $400 million accelerated share repurchase transaction in July.
▪️ In August and September, it repurchased an additional $58 million of shares in the open market
▪️ In January 2025, the company completed execution of the additional $200 million of repurchases of its Class A Common Stock that it announced in August 2024

The company has repurchased a total of $600 million of its common stock under the share repurchase authorization
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⁠Startup Archive
RT @Jason: 2012 babies! 👶🏻 👶🏻

Naval Ravikant on VCs that replace founders with “bozo CEOs”

“I really feel like as an investor, if you can’t back the founder until the founder is ready to give it up, then you probably shouldn’t be backing that founder. That’s just a personal opinion. And if the founder feels they still have to keep going, in a way, it’s their right.”

Naval continues:

“If you feel that the best businesses are built by the people who stick it out — who persevere. Then you only want to back the people who really will persevere. And then when you back them, you sort of make a moral compact with them that, ‘I’m going to back you through, good times and bad.’”

He also points out that smart founders are no longer giving VCs the power to fire them:

“That power is going away… At Venture Hacks, our tagline was: ‘Valuation is temporary, control is forever.’ And it was all about not fixating so much on the other pieces. Just make sure you keep control. If you have control, it’s your company. And the day you lose control, you’re no longer an entrepreneur, you’re an employee.”

Video source: @twistartups @jason (2012) - Startup Archive
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⁠InsideArbitrage
United Rentals $URI to Acquire H&E Equipment Services $HEES for $4.8 Billion -
✴️United Rentals intends to commence a tender offer by January 28, 2025, to acquire all of the outstanding shares of H&E common stock for $92 per share in cash, representing a 109.38% premium from the stock’s last close.
✴️The merger agreement includes a 35-day “go-shop” period, ending on February 17, 2025.
✴️The transaction is expected to close in Q1 2025.
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⁠InsideArbitrage
Land & Buildings Investment Management asked Apartment Investment and Management (Aimco) $AIV to immediately pursue the company’s strategic review through a sale of the whole company.
✴️Aimco last week announced exploring options, including a sale of the company.
✴️"We expect there to be a deep pool of potential acquirers for all or parts of the company and that a transaction could be entered into by mid-2025," Litt said, adding that "it is the only one that makes sense".
✴️In 2023 also activist investor Jonathan Litt’s Land & Buildings Investment Management had urged Aimco to evaluate all potential alternatives including a sale.
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⁠Stock Analysis Compilation
Baron International Growth Fund on Meituan $3690 HK

Thesis: Meituan is a leading Chinese food delivery platform with over 70% market share and a strong local services super app, expected to deliver over 20% compound earnings growth over the next three to four years.

(Extract from their Q3 letter)
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⁠Investing visuals
The market has seen quite some red day lately. Remember to zoom out though! https://t.co/t9oyyx8zfs
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⁠Quiver Quantitative
RT @QuiverCongress: JUST IN: Representative @ZachNunn just introduced legislation that says it would:

- Ban insider trading by Congress
- Extend the ban on members becoming lobbyists
- Repeal pay raises for members of Congress

Follow here for updates: https://t.co/FlLIubWCu6
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⁠Quiver Quantitative
RT @QuiverCongress: JUST IN: @RepDavidRouzer has introduced legislation to abolish the Department of Education.

Follow here for updates: https://t.co/6Ae429ZLEz
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