Braemar Hotels & Resorts: HST Four Seasons Sale, Updated Thoughts
Braemar Hotels & Resorts’ Four Seasons sale prompts updated views on HST.
Topic
special situations
Everything our editor has picked under this tag, best first.
Golden Entertainment: PropCo OpCo Split, Insufficient MBO Offer
Golden Entertainment’s PropCo-OpCo split follows an insufficient management buyout offer.
Sotherly Hotels: Buyout, Preferred Share Conversion Arbitrage
Sotherly Hotels buyout creates a preferred-share conversion arbitrage opportunity.
Braemar Hotels & Resort: Gross Asset Management Contract, Initiated Sales Process
Braemar Hotels & Resorts initiated a sales process and faces a gross asset management contract.
180 Degree Capital: Merger w/ Mount Logan Capital, Tender Offer, Questions Remain
180 Degree Capital plans to merge with Mount Logan Capital and launch a tender offer, leaving open questions around the transaction.
Franklin Street Properties: Office Basket, Strategic Alternatives
Franklin Street Properties pursues strategic alternatives for its office-property portfolio.
Net Lease Office Properties: Office Basket, REIT Spin/Liquidation
Net Lease Office Properties is a REIT office basket pursuing a spin-off and liquidation.
GCI Liberty: Cheap, Tax Asset, Malone Fatigue?
GCI Liberty trades cheaply, holds tax assets, and faces investor fatigue with John Malone.
NSTS Bancorp: Post 3-Year Thrift Conversion, Possible Sale
NSTS Bancorp’s three-year thrift-conversion anniversary could clear the way for a potential sale.
Repare Therapeutics: Broken Biotech, Hidden Strategic Alternatives
Repare Therapeutics faces a broken biotech valuation and potential strategic alternatives.
Mural Oncology: Former Spin Turned Broken Biotech
Mural Oncology is a former spin-off biotech now described as broken.
Elevation Oncology: Broken Biotech, Slightly Riskier
Elevation Oncology is a broken biotech with a slightly riskier setup.
Dun & Bradstreet: Strategic Process Wrapping Up, Cheap Valuation
Dun & Bradstreet’s strategic process is wrapping up as the company trades at a cheap valuation.
Third Harmonic Bio: Strategic Alternatives, Keeping Options Open on THB335
Third Harmonic Bio is pursuing strategic alternatives while preserving options for its THB335 program.
Hidden in Plane Sight
An aerospace company’s profitable core is obscured by a long-running FAA development program; approval, abandonment, or shrinking losses…
On the Horizon
A tiny defense supplier trades at roughly 6.5x estimated normalized EBIT as military-program volumes rise and a strategic review considers…
Would I have been the patsy at $QVCPQ? $QVCAQ
QVC’s confirmed bankruptcy plan lets operating-company creditors take holdco assets and wipes out preferreds that traded above $5 before…
$CBZ: stop the buybacks and restart the M&A flywheel? | Reference Equity
CBIZ's proposed shift from buybacks to equity-funded bolt-on M&A targets renewed revenue compounding after the $2.3 billion Marcum deal and…
Corporate dark arts: the strangest 8-K I've ever seen $DMRC
DMRC’s incoming CEO can earn more than $40 million if shares rise roughly fivefold, despite an 8-K warning of substantial doubt about the…
Is insider buying a signal if the insiders are always wrong? $LILAK
LILAK’s canceled GCI Liberty deal, preferred-stock distribution, and $1.7 million of insider buying revive governance concerns around John…
First Takes on GFL's Acquisition of Secure
GFL Environmental is buying Secure Waste at 11x 2026E EBITDA before synergies, adding high-margin produced-water and waste assets with $25…
Brookfield's New Lawsuit
Brookfield faces whistleblower allegations over its VC funds; $569 million of Q1 buybacks challenges claims that $8 million of remaining…
Brookfield Corp. - Get a Buck for Fifty Cents
Brookfield Corp. trades at 13.2x 2025 distributable earnings and $45.97 against management’s $91.76 sum-of-the-parts Plan Value, discounted…
Danaher 2Q'26: Yet Another "Meh" Quarter
Danaher posted 3.0% core revenue growth in 2Q’26, with LTM adjusted EBITA flat at $7.1 billion since 2Q’24 despite a mid-20s earnings…
