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Theme: Actionable

KEDM Lite Vol. 22

This week’s additions and highlights 1. SPIN-OFFS Valmet (VALMT FH). Valmet launched a strategic review to see if it makes sense to split the company into two listed businesses, separating its Biomaterial Solutions and Process Performance Solutions units. Spoiler alert: it makes a lot of sense. This thing has long carried a large holdco discount,…

KEDM Lite Vol. 21

This week’s additions and highlights 1. SPIN-OFFS Midera Food Processing (MFP US). Flagging the upcoming spin-off of Middleby’s Food Processing business as Midera Food Processing (MFP; expected this week). As mentioned, interesting timing given the unit’s relatively smaller size, stronger growth but worse margin dynamic compared to the Middleby’s larger Commercial Foodservice segment. The Food…

KEDM Lite Vol. 20

This week’s additions and highlights 1. SPIN-OFFS Mobility Global (MBGL-W US). Mobility Global began trading when‑issued, and we’re keeping an eye on this one. The stock is getting quite some attention (Fintwit / VIC / Substack), but let’s see if we’ll see some (forced) selling given its small size, lack of overlap with SPGI and…

KEDM Lite Vol. 19

This week’s additions and highlights 1. SPIN-OFFS Middleby (MIDD US). Middleby has set June 26 as the record date for the spin of Midera Food Processing. Trading on roughly in the first week of July. Interesting timing given the unit’s relatively smaller size, stronger growth but worse margin dynamic compared to the Middleby’s larger Commercial…

KEDM Lite Vol. 18

This week’s additions and highlights 1. SPIN-OFFS Adaptive Biotechnologies (ADPT US). Adaptive will separate its MRD and Immune Medicine businesses, aiming to focus on MRD diagnostics while exploring strategic and structural options for Immune Medicine. The separation is expected to move swiftly, expected by year‑end 2026. To support the move Adaptive is also planning a…