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   Strategies & Market TrendsSpeculating in Takeover Targets


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To: richardred who wrote (5150)3/27/2019 1:36:18 PM
From: richardred
   of 6147
 
First buy in quite some time, added to ENZ . This on the hypothetical thought Roche Holdings Ltd might solve it's remaining legal woes by buying the company? They agreed to settle one suit. IMO this shows ENZ patents are strong.

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To: Labrador who wrote (5149)3/30/2019 9:57:50 PM
From: richardred
   of 6147
 
Activist Starboard drops out of Celgene fight as proxy firms back Bristol-Myers bid


  • The withdrawal comes hours after both Institutional Shareholder Services and Glass Lewis recommended Bristol-Myers shareholders vote in favor of its bid.
  • "We are extremely disappointed by the conclusions reached by the proxy voting advisory firms," Starboard said.

Chris Goodney | Bloomberg | Getty Images
Jeff Smith, chief executive officer and chief investment officer of Starboard Value LP.

Activist investor Starboard Value has ended its fight against Bristol-Myers Squibb's buyout of biotechnology company Celgene after two prominent proxy advisors announced their support for the deal earlier on Friday.

The withdrawal comes hours after both Institutional Shareholder Services and Glass Lewis recommended Bristol-Myers shareholders vote in favor of its bid.

"Despite the substantial swell of support against this transaction, it is extremely difficult for shareholders to prevail without a supportive recommendation from ISS and Glass Lewis to vote against the transaction," Starboard said in a press release. "Therefore, Starboard has decided to withdraw its proxy solicitation to vote against the Celgene transaction."

Though Starboard said it still plans to vote against the transaction at the April 12 shareholder meeting, the decision to pull its proxy solicitation represents a defeat for the fund, which announced its opposition one month ago.

Though ISS and Glass Lewis do not have an official say in how investors vote their shares, global passive fund managers like Vanguard often factor in their recommendations when casting their ballots. Celgene shares rose more than 7 percent in midday trading, while Bristol-Myers dropped 0.2 percent.

"We are extremely disappointed by the conclusions reached by the proxy voting advisory firms," Starboard said. "We continue to feel strongly that the proposed transaction between Bristol-Myers and Celgene Corporation is a bad deal for shareholders that carries too much risk."

As of 12:46 p.m. ET Friday, Bristol's second-largest shareholder, the investment firm Wellington Management, remained opposed to the tie-up.

That's despite positive comments from ISS and Glass Lewis earlier Friday.

ISS said that "the transaction also significantly enhances BMY's pipeline, raising the number of late-stage drugs from one to six," ISS said, according to a Bristol-Myers press release Friday.

"Both companies' current products and their pipelines are focused on drugs that fight cancer and blood disorders," ISS added. "As such, the merger appears logical strategically, and likely to generate more synergies than one involving disparate pharmacological areas of focus."

cnbc.com

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To: richardred who wrote (5152)3/31/2019 5:27:11 AM
From: Labrador
   of 6147
 
This was not as an exciting as I had originally expected, but it was clear that this transaction was going through. Fairly large arb opportunity did exist.

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To: richardred who wrote (5101)4/4/2019 12:35:44 AM
From: richardred
   of 6147
 
#3 On this years SITT list- ASYS-Speculation

I like the company's decision to sell its solar business. The Semi & SiC/LED Segment are profitable businesses for the company. Upon a eventual sale of the solar business. IMO this gives the company added speculative appeal.

Amtech Systems Announces Plan to Divest Solar Businesses and Focus Solely on the Profitable Growth Opportunities in Its Semiconductor Businesses

TEMPE, Ariz., April 3, 2019 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes (LEDs), silicon carbide (SiC) and silicon power chips and solar cells, today announced that following an extensive review of its businesses, Amtech management and Board of Directors have decided to focus solely on growth opportunities in the Company's semiconductor and SiC/LED polishing businesses and intend to sell the Company's solar businesses, including its Tempress and SoLayTec subsidiaries.

Amtech's J.S. Whang, Chairman and Chief Executive Officer, commented, "In November 2018 we announced that we had initiated a comprehensive review of our solar businesses. In a February update we noted thus far our review strongly indicates that our combined Semi and SiC/LED polishing business provide better markets for enhancing the value of Amtech Group. We have recently completed our assessment and conclude, along with Tempress and SoLayTec management, that significant investment is required to effectively compete in the changing solar industry. We therefore conclude Tempress and SoLayTec would be better positioned to capitalize on opportunities in the solar industry under new ownership."

Compelling Financial and Strategic Growth Benefits

The expected divestiture of Amtech's solar businesses offers compelling financial and strategic benefits. The strategic streamlining positions Amtech to:

Invest in the three semiconductor value chains in which it operates: chip substrate, chip fabrication, and chip packaging and SMT,
Build upon our strengths in chip packaging and SMT,
Further our position as a market leader in the fast-growing, high-end power chip market (SiC and 300mm Si HTR),
Stop solar losses and enhance the Company's cash flow and earnings growth profile, and
Capture high value for our investments.

Mr. Michael Whang, Chief Operating Officer, added, "With renewed excitement, we now look to dedicate our resources to our semiconductor and silicon carbide businesses. We see significant opportunity to build upon our strengths as we seek to more fully participate in the fast-growing advanced power chip opportunities ahead of us. We believe this strategic shift transitions Amtech to a business model that can deliver more reliable profitability in both the near and longer term."

About Amtech Systems, Inc.

Amtech Systems, Inc. is a global supplier of advanced thermal processing and polishing equipment and related consumables to the semiconductor / electronics, power IC businesses, advanced lighting manufacturing and solar markets. Amtech's equipment includes diffusion systems, solder reflow systems, wafer handling automation, PECVD and ALD systems and polishing equipment and related consumables for surface preparation of various materials, including silicon carbide ("SiC"), sapphire and silicon. The Company's wafer handling, thermal processing, polishing and consumable products currently address the diffusion and deposition steps used in the fabrication of semiconductors, printed circuit boards, semiconductor packaging, solar cells, MEMS, and advanced lighting, including the polishing of newly sliced sapphire and silicon wafers. Amtech's products are recognized under the leading brand names BTU International, Bruce TechnologiesTM, PR HoffmanTM, Tempress SystemsTM, R2D AutomationTM and SoLayTec.

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release is forward-looking in nature. All statements in this press release, or made by management of Amtech Systems, Inc. and its subsidiaries ("Amtech"), other than statements of historical fact, are hereby identified as "forward-looking statements" (as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). The forward-looking statements in this press release relate only to events or information as of the date on which the statements are made in this press release. Examples of forward-looking statements include statements regarding Amtech's plans to sell its solar businesses, its plans to invest in three semiconductor value chains in which it operates (chip substrate, chip fabrication, and chip packaging and SMT) and fully participate in advanced power chip opportunities, and its ability to enhance its cash flow and earnings growth profile, capture high value for its investments, and deliver more predictable results and consistent profitability in both the near and longer term. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "would," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology or our management are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Except as required by law, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts:
Amtech Systems, Inc.
Lisa Gibbs
Chief Financial Officer
(480) 967-5146
IRelations@Amtechsystems.com

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To: richardred who wrote (5101)4/5/2019 10:59:43 AM
From: richardred
   of 6147
 
CTG-Speculation PE-Stone Point owner of Eliassen Group acquires Project one.

Eliassen Group Expands Service Offerings with Acquisition of Project One


READING, Mass., April 3, 2019 /PRNewswire/ --

Eliassen Group, LLC ("Eliassen Group"), a strategic consulting and talent solutions firm, today announced that it has acquired Project One, Inc. ("Project One"), a technology consulting and staffing firm within the media technology industry.

prnewswire.com

About Stone Point Capital
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point Capital targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, real estate finance and service businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For more information about Stone Point Capital, visit www.stonepoint.com.

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To: richardred who wrote (5151)4/9/2019 9:19:06 AM
From: richardred
   of 6147
 
ENZ-speculation Harbert joins Roumell Asset Management with a 13d filing. Together with Harbert a 10% stake. Up to these guys below to join and push for more.

Evermore Global Advisors, LLC Wellington Management Company, LLP Blackrock Inc. Renaissance Technologies, LLC Manufacturers Life Insurance Co. Dimensional Fund Advisors LP
12/31/18 4.5M $14.1M 9.58%
12/31/18 4.2M $13.0M
8.82%
12/31/18 4.0M $12.5M 8.49%
12/31/18 3.1M $9.6M 6.54%
12/31/18 2.9M $9.2M 6.22%
12/31/18
2.0M $6.3M 4.30%


BRIEF-Harbert Fund Advisors Inc Reports 6.92 Pct Share Stake In Enzo Biochem Inc As Of March 29
BY Reuters
— 5:51 PM ET 04/08/2019

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To: richardred who wrote (5127)4/10/2019 9:56:01 AM
From: richardred
   of 6147
 
SFS-Speculation- Ahold still stopping and shopping?

Long Island grocery chain King Kullen acquired by Stop & Shop - by Ron Koenigsberg
April 02, 2019 - Long Island
Ron Koenigsberg,
American Investment Properties More change comes to Long Island related to grocery chains. King Kullen, an iconic supermarket chain on Long Island in business since 1930, was purchased by regional competitor Stop & Shop. Included in the deal are the remaining thirty two King Kullen stores, as well as five Wild by Nature natural food stores, and the corporate office in Bethpage. The acquisition is currently expected to close during the first quarter of this year according to Stop & Shop officials.

About the King Kullen Supermarket Chain
In a release, Brian Cullen, co-president of King Kullen, stated that “In 1930, Michael J. Cullen opened the first King Kullen and ushered in the era of the great American supermarket.” and referred to the family-owned business as “part of the fabric of this island for 88 years.”

In 1980 the supermarket chain reached a high point of fifty three stores, of which 31 were in Suffolk County, and in 1995 the first Wild by Nature store opened in a former King Kullen location in East Setauket. The chain’s latest news before the deal to sell was in 2004 when the supermarket launched “Grown on Long Island” a program that featured produce from local Long Island Farms.

The Cullen family remained in control of the chain throughout its history taking the company public in 1961 but bought it back in 1983. The Smithsonian Institute acknowledges King Kullen as America’s first supermarket, as it was the first to fulfill all five criteria that define the modern supermarket: separate departments, self-service, discount pricing, chain marketing, and volume dealing.

This current deal is King Kullen’s second with Stop & Shop. In 2011, King Kullen sold its three Staten Island stores to Stop & Shop, as the chain completed its withdrawal from the New York City market.

About The Stop & Shop Grocery Store Chain
Stop & Shop president Mark McGowan stated in a release that they “look forward to bringing our quality, selection, and value to more communities in Nassau and Suffolk Counties.” However, the grocery store chain has not made any decisions on the conversion of the thirty seven stores total and has stated that they are still evaluating those stores and making decisions.

Stop & Shop, founded in 1914, is a Massachusetts based regional chain with stores in Connecticut, Massachusetts, New Hampshire, New York, and Vermont and with more than $3 billion in annual sales. The first Stop & Shop arrived on Long Island in 1995. Today there are roughly 75 Stop & Shop locations across Long Island.

This is not Stop & Shop’s first Long Island supermarket acquisition. In 2015, Stop & Shop acquired nine A&P locations consisting of three Pathmark and six Waldbaum’s stores. The current transaction is the second largest restructuring of the Long Island grocery business within recent months.

In November 2018, German grocery giant Lidl announced the buy-out of Best Markets. Before that, in 2015 we saw the bankruptcy of Waldbaum’s parent company Great Atlantic & Pacific Tea Co. affecting Long Island’s 32 Waldbaum’s stores and 19 Pathmark stores.

Ron Koenigsberg is the president of American Investment Properties, Garden City, N.Y.

nyrej.com

P.S.

2019 Grocery Business of the Year: Ahold Delhaize USA How scale, conviction, and a little bit of friction helped Ahold Delhaize USA chart a new trajectory and score a rare merger that’s hitting all its goals

By Jon Springer on Apr. 08, 2019.

winsightgrocerybusiness.com

>snip
"I expect more of the smaller chains and independent stores to seek deals with larger more efficient operators," Todd said. "And of course, don't forget Amazon's recent announcement it is looking at purchasing several regional grocery chains which has many of those firms asking how to get on that line."

grocerydive.com

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To: richardred who wrote (2936)4/12/2019 6:26:35 AM
From: richardred
   of 6147
 
Oil Biggie

Chevron Corp said on Friday it would buy Anadarko Petroleum Corp for $33 billion in cash and stock.

The offer of $65 per share represents a 39 percent premium to Anadarko’s Thursday close.

The total enterprise value of the transaction is $50 billion.

reuters.com

Message #2936 from richardred at 10/19/2011 9:55:56 AM

Chevron considering acquisitions, analyst says



NEW YORK (MarketWatch) -- Chevron Corp. /quotes/zigman/289939/quotes/nls/cvx CVX -0.45% may consider acquisitions of comparable size to its $4.3 billion purchase of Atlas earlier this year as it mulls options for its cash holdings, analyst Pavel Molchanov of Raymond James said in a note to clients on Wednesday. Meeting with investors and other Wall Streeters at a lunch on Tuesday, Chevron CEO John Watson and other company officials said the company favors "small, more bolt-on deals" up to and including the size of the Atlas acquisition, Molchanov said. "Management looks for resource accumulation acquisitions like Atlas that will add long-term value, noting that paying for current production is often expensive," he said. Chevron is also considering dividend increases and stock buybacks in order to deploy its $13 billion in cash, but signaled it's not planning a large, short-term buyback.
marketwatch.com


To: richardred who wrote (4830)3/28/2018 9:56:54 AM
From: richardred Read Replies (2) of 5157
Oil price still lucrative enough for deals in the Permian Basin

Oil producer Concho to buy rival RSP in Permian push

(Reuters) - Oil and gas producer Concho Resources Inc said on Wednesday it will buy smaller rival RSP Permian Inc in an all-stock deal valued at about $8 billion, in a bid to run the largest drilling program in the Permian Basin.

Many energy companies, including Exxon and Chevron, have swarmed to the Permian Basin to boost production because of its prolific resources and relatively cheap costs. Production there is expected to rise by 75,000 barrels per day to 3 million bpd in March.

The combined company, which will be owned 74.5 percent by Texas-based Concho, will have 27 rigs in the Permian Basin.

The deal will add about 92,000 net acres to Concho’s existing oil fields in the Permian Basin, increasing total acreage to 640,000, the companies said.

“This combination allows us to consolidate premier assets that seamlessly fold into our drilling program”, Concho Chief Executive Officer Tim Leach said in a statement.

RSP shareholders will get 0.320 of Concho shares for each stock held, worth about $50.24 per share - a premium of nearly 29 percent to RSP’s close on Tuesday.

Shares of RSP Permian were up 19.1 percent at $46.35 in premarket trade.

The companies said including debt, the value of the deal is $9.5 billion. The equity value of the deal was calculated based on 155.53 million outstanding shares of RSP.

“This is a significant acquisition, and a lot of synergies that make sense, said RBC analyst Scott Hanold, adding the 29 percent premium was a reasonable price to pay.

The acquisition is likely to add to Concho’s earnings in the first year after the deal closes, which is expected in the third quarter, the companies said.

reuters.com

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To: richardred who wrote (5158)4/12/2019 3:13:46 PM
From: Paul Senior
   of 6147
 
Adding to my position today, I'm betting on Permian player TRCH to be acquired at price higher than current.

(They have suitors they say.)

finance.yahoo.com

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To: Paul Senior who wrote (5159)4/13/2019 5:45:05 AM
From: Labrador
   of 6147
 
Paul - I am unfamiliar with this company. Last week (Thurs/Friday), there was a big 20% move up. I could find no news - do you know why?

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