⁠Quiver Quantitative
RT @QuiverCongress: Senator Chuck Schumer just said:

We must protect TikTok’s future, while also protecting American national security.

Follow here for updates https://t.co/TDyjzcb3BI
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⁠Quiver Quantitative
Representative Michael McCaul recently bought up to $100K of stock in Fortinet, $FTNT.

Fortinet is a cybersecurity company.

McCaul sits on the House Committee on Homeland Security. https://t.co/uFELxPxF1G
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⁠Dimitry Nakhla | Babylon Capital®
“Good investment opportunities aren’t going to come along too often and won’t last too long. So you’ve got to be ready to act.”

— Charlie Munger 🗣️
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⁠Quiver Quantitative
We’ve been writing code to track politicians’ portfolios.

This new trade caught our attention: https://t.co/0xH9UjZMJ9
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⁠InsideArbitrage
📢 Elevator & escalator manufacturer - $OTIS Otis Worldwide Announces $2B Buyback! 💰

Otis has launched a new $2 billion share repurchase program, effective immediately, equal to ~5% of its market cap at announcement.

🔄 Alongside this, the Board canceled the remaining $100M from the prior buyback plan, approved on Dec 1, 2022.

📉 The firm has been gradually buying back, reducing its shares outstanding by ~6% over the last 3 yrs
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⁠Capital Employed
41 ‘fresh-off-the-press’ stock pitches we’ve enjoyed reading in the first 17 days of the new year… 👇

https://t.co/ygYNsjd8IZ https://t.co/Se9OU3XvXj
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⁠InsideArbitrage
Rio Tinto $RIO and Glencore Discussed Merger But Talks No Longer Active - Reuters

The talks between Rio and Glencore, which took place late last year, were brief and did not go anywhere.
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⁠InsideArbitrage
Figs $FIGS rejected Story3 Capital's offer to acquire Figs for $6 per share.

In a letter, Figs informed Story3 that the company’s Board remains confident in the Company’s standalone plan and prospects and has decided not to pursue Story3’s unsolicited acquisition proposal.

Medical-Apparel Maker Figs $FIGS Gets Takeover Bid From Private-Equity Firm - WSJ
⚕️Figs received a takeover offer from Story3 Capital Partners that valued the company at more than $1 billion.
⚕️Story3 offered $6 a share for the common shares outstanding of Figs that it doesn’t already own. Story3 and affiliated funds own a little over 1% of the company’s shares.
⚕️Story3 said that Fortress Investment Group, one of its strategic limited partners, is prepared to provide the debt financing for the deal. - InsideArbitrage
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⁠InsideArbitrage
🚨 $BBAI https://t.co/kk5HW6E1po Leadership Update

🏢 New CEO: Kevin McAleenan appointed as Chief Executive Officer and Board Member, effective Jan 15, 2025.

🎓 Background: McAleenan co-founded Pangiam, served as its CEO, and held key roles in U.S. Customs and Border Protection & Homeland Security.

💼 Compensation:
Base salary: $500K/year.
Annual bonus: 125% of base salary.
Initial equity award: $4M in restricted stock units (50%) & stock options (50%).

Amanda Long is stepping down as CEO & Board Member, transitioning to an advisory role.

Severance:
$1.125M (base salary + bonus).
$170K for health & welfare benefits.
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⁠InsideArbitrage
$HSY Hershey CEO Michele Buck Announces Retirement

🗓️ Retirement Date: Michele Buck, Chairman, President & CEO of Hershey, plans to retire effective June 30, 2026.

👩‍💼 Transition Plan:
- Will remain in current roles until a successor is appointed.
- Post-appointment: Transition to Special Advisor until June 30, 2026.

🔍Board forms a special committee to identify internal and external candidates with a top-tier search firm.

💰 Updated Compensation:

Base Salary: $1.4M annually.
2026 Bonus: 160% of base salary, prorated at 50%.
2025 Long-Term Incentive: $8.75M (35% restricted stock, 65% performance stock).
2026 Incentive: $4.375M (100% restricted stock).
Consulting Fee: $41,666.66/month during consulting period.
Retention Bonus: $8.5M ($3.5M in Jan 2025; $5M after June 2026).

Hershey reaffirms its 2024 financial outlook and will release its 2025 guidance in February. 📊
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⁠Hidden Value Gems
A few interesting M&A deals 👇🏼

➡️ “Rio Tinto and Glencore held talks as recently as October about combining part or all of their businesses, according to people familiar with the matter, but the discussions didn’t progress.”

➡️ “France’s Bureau Veritas broke off merger discussions with FTSE 100 group Intertek in favour of pursuing a €31bn combination with Swiss rival SGS, underscoring the appetite to consolidate in the certification sector.”

➡️ “The owner of France’s Natixis Investment Managers and Italian insurer Generali are close to announcing an agreement to create an asset management joint venture that would bring together two of the biggest European names in the sector.”

via @FT
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