In Going Private, our twice-weekly newsletter on private markets, we explore how one Hong Kong investment firm is going long on a Chinese retail renaissance https://t.co/yQDgp8HHQS ...

In Going Private, our twice-weekly newsletter on private markets, we explore how back-to-office edicts are supporting rental prospects in UK real estate https://t.co/0UPmqjr5zr ...

Core Viewpoint - Denny's is set to go private in a $620 million all-cash transaction led by TriArtisan Capital Advisors, with shares valued at $6.25 each, expected to close in Q1 2026 pending approvals [1]. Group 1: Stock Performance - Denny's shares surged over 50% following the announcement of the acquisition [1]. - Despite the rally, Denny's stock is still down over 15% compared to its year-to-date high [2]. - The market has largely priced in the acquisition, leaving minimal upside for new investors unless a competing bid arises [3]. Group 2: Strategic Implications - Going private allows Denny's to focus on long-term strategies without the pressure of quarterly earnings or public market scrutiny [5]. - The new ownership is expected to bring operational expertise and capital to support growth initiatives [5]. - The transition may lead to streamlined operations, modernization investments, and repositioning amid changing consumer habits [6]. Group 3: Market Sentiment - Wall Street firms no longer see potential for further upside in Denny's stock [7]. - The consensus rating on Denny's shares is "Moderate Buy," with the highest price target at $6, which is about 3% below the current price [8].

Core Insights - Hologic, Inc. reported adjusted earnings per share (EPS) of $1.13 for Q4 fiscal 2025, reflecting an 11.9% year-over-year increase and surpassing the Zacks Consensus Estimate by 2.73% [1][9] - The company's revenues reached $1.05 billion in Q4, up 6.2% year-over-year, also exceeding projections [3][9] - Hologic has entered into an agreement to be acquired by Blackstone and TPG, with a transaction valued at up to $79 per share [14][15] Financial Performance - Adjusted EPS for fiscal 2025 was $4.26, marking a 4.4% increase from fiscal 2024 [2] - Q4 revenues of $1.05 billion surpassed the Zacks Consensus Estimate by 1.49% [3] - Fiscal 2025 total revenues were $4.10 billion, up 1.7% compared to fiscal 2024 [3] Revenue Breakdown - U.S. revenues in Q4 increased by 5.2% to $784.4 million, exceeding projections [4] - International revenues reached $265.1 million, up 9.4% year-over-year [4] - Diagnostics segment revenues grew 2.4% year-over-year to $454.1 million, driven by higher U.S. molecular diagnostics sales [5] - Breast Health segment revenues surged 4.8% to $393.7 million, outperforming expectations [7] - Surgical revenues increased by 10.2% to $172.5 million, primarily due to sales of MyoSure and Fluent [10] - Skeletal Health revenues skyrocketed by 129.9% to $29.2 million [11] Operational Metrics - Adjusted gross margin decreased by 60 basis points to 60.9% due to product mix and higher tariff expenses [12] - Adjusted operating margin improved by 120 basis points to 31.2% due to revenue growth [12] Cash and Debt Position - Cash and cash equivalents at the end of Q4 were $1.96 billion, down from $2.16 billion at the end of fiscal 2024 [13] - Total long-term debt was $2.51 billion, slightly reduced from $2.53 billion at the end of fiscal 2024 [13] - Net cash provided by operating activities decreased to $1.06 billion from $1.29 billion a year ago [13] Acquisition Details - The acquisition deal includes a cash payment of $76 per share and a contingent value right (CVR) of up to $3 per share, dependent on achieving certain revenue goals [14] - The transaction is expected to close in the first half of calendar year 2026, pending stockholder and regulatory approvals [15]

Core Viewpoint - Nelson Peltz, through Trian Fund Management, has made a £5.3 billion ($7 billion) bid to acquire Janus Henderson, aiming to take the company private and mitigate risks associated with market volatility and geopolitical dynamics [1][8]. Group 1: Bid Details - The bid involves acquiring the remaining 80% of Janus Henderson that Trian does not already own, as Trian currently holds approximately 20% of the company [2]. - Trian has partnered with General Catalyst, a US private equity firm, to finance the acquisition [3]. Group 2: Company Background - Janus Henderson manages $450 billion of investor assets and has a workforce of 2,000 employees [4][9]. - The company was formed from the merger of Henderson Group and Janus and is headquartered in London [9]. Group 3: Market Context - Peltz's offer of $46 per share is significantly higher than the share price in April, which was just above $30, influenced by market conditions related to geopolitical events [8]. - The S&P 500 has recently reached record highs, providing a favorable environment for shareholders to realize profits [8][9]. Group 4: Activist Involvement - Peltz has been an activist investor at Janus for five years, focusing on reversing significant outflows from the company [10]. - Trian's involvement has included the ousting of former CEO Dick Weil and the installation of current CEO Ali Dibadj [11].

Core Insights - Grindr's majority owners are attempting to take the LGBTQ+ dating app private due to a stock decline that has led to a personal financial crisis for them [1] Group 1: Ownership and Financial Situation - The majority owners, Raymond Zage and James Lu, control over 60% of Grindr and had previously acquired the app for over $600 million in 2020 before taking it public in 2022 [2] - Zage and Lu pledged nearly all their shares as collateral for personal loans from a unit of Singapore's sovereign wealth fund Temasek, which became undercollateralized following a stock slide [3] Group 2: Business Performance and Market Reaction - Despite the stock decline, Grindr's profits increased by 25% in the second quarter, although there are concerns regarding executive turnover and narrowing margins [4] - The owners are in discussions with Fortress Investment Group to secure financing for a buyout at approximately $15 per share, valuing Grindr at around $3 billion, which led to a jump in shares following the report [5]

Core Points - Electronic Arts (EA) will be acquired by a consortium of private equity firms led by Silver Lake in a $55 billion deal, with EA stockholders set to receive $210 per share in cash [1][2] - EA stock rose more than 5% in early trading following the announcement of the acquisition [1] - Andrew Wilson, EA's chairman and CEO, emphasized the company's commitment to innovation in entertainment, sports, and technology [2] Summary by Sections Acquisition Details - The acquisition deal is valued at $55 billion, with EA stockholders receiving $210 per share in cash [1] - The consortium includes Saudi Arabia's sovereign wealth fund, PIF, and Affinity Partners [1] Market Reaction - EA stock experienced a rise of over 5% to $204.10 in premarket trades following the acquisition announcement [1] - The stock jumped significantly after reports indicated that EA was nearing a deal to go private [2] Company Vision - Andrew Wilson stated that EA will continue to innovate and create transformative experiences for future generations [2] - Jared Kushner, CEO of Affinity Partners, praised EA as an extraordinary company with a world-class management team [2]

Industry Trend - Electronic Arts (EA), a major video game company, is reportedly considering going private [1]