Category Archives: Odd Lot Tender Offers

Company: Blue Bird Corporation Ticker: BLBD Market Cap: $650mm Size of Action: up to $50mm Type of Transaction: Tender Offer (odd lot provision was removed) Current Price: $24.35 Tender Price: $28.00 Potential Gain (%): 15% Expiration: 5pm Oct 15th, 2018 Tender Limit (Shares): NA Max Investment ($): $2,400 … Continue reading →

Company: Churchill Downs Ticker: CHDN Market Cap: $3.8bn Size of Action: $500mm Type of Transaction: dutch tender offer Current Price: $252.50 Tender Price: $230.00-$265.00 Potential Gain (%):  4.9% Expiration: February 7th Tender Limit (Shares): 99 Max Investment ($): ~$25,000 Max Gain ($): ~$1,200 Link: Filing Summary: Churchill Downs has issued a … Continue reading →

Company: CBS Corp.  Ticker: CBS, ETM Market Cap: ~$23bn Size of Action: up to ~$6bn Type of Transaction: Exchange Offer with Odd-Lot Provision Current Price: $56.41 (CBS), $11.00 (ETM) Tender Price: $1.08 of ETM stock for every $1.00 of CBS stock tendered (subject to upper limit of 5.7466). Potential … Continue reading →

Company: White Mountains Insurance Group Ticker: WTM Market Cap: $3.7bn Size of Action:  ~$425mm Type of Transaction: Tender Offer with Odd-Lot provision Current Price: $870.00 Tender Price: $825-$875 Potential Gain (%): -5% to 1% Expiration: September 14, 2017 Tender Limit (Shares): 99 Max Investment ($): ~$85k Max … Continue reading →

Contact: We have been having some issues with our spam filter. Please contact us at oddlotspecialsituations@gmail.com if you have an questions. Company: Tropicana Entertainment Inc. Ticker: TPCA Market Cap: $1bn Size of Action: ~$220mm Type of Transaction: Tender Offer with Odd-Lot Provision Current Price: $43.40 … Continue reading →

RESULT: Shares were purchased at $53.20 for 1.6% upside. Company: Yahoo! Inc.  Ticker: YHOO , VWAP is based off BABA Market Cap: ~$50bn Size of Action: up to $3bn Type of Transaction: Tender Offer with Odd-Lot provision Current Price: $52.37 Tender Price: $50.73 – $57.58 (.37 to … Continue reading →

Company: Advanced Emissions Solutions Ticker: ADES Market Cap: $220mm Size of Action: up to ~$10mm Type of Transaction:  Dutch Tender Offer with Odd-Lot Provision Current Price: $9.85 Tender Price: $9.40 to $10.80 Potential Gain (%): ~10% (assuming upper limit) Expiration: June 5th, 2017 Tender Limit (Shares): … Continue reading →

Company: CIT Group Inc.  Ticker: CIT Market Cap: ~$9.5bn Size of Action: up to $2.75bn Type of Transaction: Dutch Tender Offer with Odd-Lot Provision Current Price: $46.70 Tender Price: $43-$48 Potential Gain (%): 2.7% (assuming upper limit) Expiration: May 24th, 2017 Tender Limit (Shares): 99 Max … Continue reading →

Company: Great Elm Capital Corp. Ticker: GECC Market Cap: ~$150mm Size of Action: up to $10mm Type of Transaction: Tender Offer with Odd-Lot provision Current Price: $11.40 Tender Price: $11.50 to $12.17 Potential Gain (%): 1-7% Expiration: May 5th 5pm Tender Limit (Shares): 99 Max … Continue reading →

Company: Neuberger Berman Real Estate Securities Income Fund Ticker: NRO Market Cap: $300mm Size of Action: $45mm Type of Transaction: Tender Offer with Odd-Lot Provision Current Price: $5.29 Tender Price: 98% of NAV ($5.75) = $5.63 Potential Gain (%): 6.4% Expiration:  January 9th Tender Limit (Shares): … Continue reading →