Some highlights from this weekend’s Event Driven Monitor
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The Event of the Week
Turning to KEDM, given its quiet on the macro/thematic front for us, we have been focused on improvements on the data and analysis side. With the addition of a new analyst, we will be re-launching our Spin Report alongside a Monitor to track the more interesting ED trades through their life cycle rather than letting them disappear into the ether.
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Kuppy’s Tweet of the Week
Chart and Kliff Note of the Week
V13D Monitor: Still waiting on the Company response over at TURN. This week Marlton issued a public letter demanding a date for the vote on the proposed merger. They criticized the board for delaying the vote by over 5 months and for incurring $6–7 M in transaction costs (~16% of Q1 NAV).
M&A Monitor: Disregarding the $20 per share take-private offer by a ~12% shareholder – Plantro, a company controlled by a former CEO, DND CN hired new chiefs – CEO, CFO, and CPO (Chief Product Officer). Both the previous and current management believe the current share price of $10 is undervalued.
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Kuppy’s Event Driven Monitor scans over 20 corporate events for market moving information and distills them into our propietary “Kliff Notes.” One profitable trade should more than cover an annual subscription and access to the Event Driven chatroom!