Special Situation Investments

Countrywide (CWD.L) – Merger Arbitrage – 22% Upside

Mar 5, 2021Nov 11, 2020

Current Price: £2.04

Offer Price: £2.50

Upside: 22%

Expected Closing: TBD

SUBMIT IDEA

Quick Pitch: Direct Digital Holdings (DRCTW)
Regardless of what happens do please update us on what happens after everything settles.
sogoodesospecial on Sep 30, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
I think you might be unpleasantly surprised when the tender offer settles.
AV on Sep 30, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Are you suggesting the person who bought the shares you shorted can't tender them?
jwestern on Sep 30, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
The short had attractive risk/reward whether no matter what side of the short tender discussion you're on. Worst case was…
Jerry Kerviel on Sep 30, 2023
SSI Weekly – Quick Pitches For ZVO, CANO and XX.V
You can just reread the writeup above. I'm not sure I can explain it any better, esp if you believe…
Jerry Kerviel on Sep 30, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
I agree with nostradamus. It is the same situation as with paying dividends on the borrowed shares - although it…
dt on Sep 29, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
I disagree. That's not the procedure. It couldn't be, as often after tenders shares never trade again, so you couldn't…
nostradamus on Sep 29, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Appreciate your thoughts, this is my last reply - shorts are not liable to pay the 1.20 - that amt…
Jerry Kerviel on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Well, if you short and whomever you borrowed the shares from successfully tenders under the guaranteed delivery clause, then you…
sogoodesospecial on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Yeah im aware and even bought shares today and successfully tendered in a couple accts. I'm more concerned with the…
Jerry Kerviel on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
At least at IB the deadline for that was 1pm Eastern today.
sogoodesospecial on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
There is a procedure for guaranteed delivery so you could buy today and tender and still get paid even though…
sogoodesospecial on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Lended shares can be tendered, but shares shorted today won't settle until Monday, which is after the tender deadline.
dangerski on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Ok thx, had some doubt there of course, hopefully I get a chance to cover tmrw before I have to…
Jerry Kerviel on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Shares that are loaned out can definitely be tendered, in which case you would end up having to pay $1.20…
sogoodesospecial on Sep 28, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
I shorted some shares today thinking they should fall (drastically?!) once the corp deadline passes. Seems too late for an…
Jerry Kerviel on Sep 28, 2023
PhaseBio Pharmaceuticals (PHASQ)
Sept 28,2023 Nearing the end , as creditors accepted the plan of a liquidation trust Sept 19th. ..SFJ is involved,…
Goheels on Sep 28, 2023
PFSweb (PFSW)
Too close to busy Q4 for them to drag it on. Want to close ASAP so it doesn't drag into…
ghenderson on Sep 28, 2023
PFSweb (PFSW)
Buyout at $7.50. Any opinions on a higher bid coming? The options market is saying this is a done deal.…
rc99ar on Sep 27, 2023
Quick Pitch: MEI Pharma (MEIP)
Not sure what you mean? Anson is going to liquidate, and that's going to pay me well. Not voting for…
crandyhill on Sep 27, 2023
Quick Pitch: MEI Pharma (MEIP)
Be smart here ! Don´t give anything away for free. Let them buy your votes. Think... Do you believe, that…
MH on Sep 27, 2023
SSI Weekly – Quick Pitches For ZVO, CANO and XX.V
Could you please clarify what you mean by "unreliable"? Is it the fact that they are doing M&A in general,…
Lukas on Sep 26, 2023
111 (YI)
DT - are you buying again? Nice upside from here if the story is still intact.
vko007 on Sep 25, 2023
Quick Pitch: MEI Pharma (MEIP)
I hope you are right MH, I have a good number of shares I'm voting with them and am kicking…
crandyhill on Sep 25, 2023
SSI Weekly – Quick Pitches For ZVO, CANO and XX.V
Seems like XX.V mgmt has proven unreliable with recent acquisition - https://www.avantecorp.ca/avante-corp.-announces-acquisition-of-55-of-north-star-support-group.
Jerry Kerviel on Sep 25, 2023
Quick Pitch: MEI Pharma (MEIP)
No Worries. Before October Anson/Cablecar will have control of the company. We know for sure, that they have around 20%…
MH on Sep 24, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
I wonder if the time it takes the trade to settle would cause a problem for you. i.e. Can you…
mkasson on Sep 22, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Cutoff date varies by broker, I recommend calling ahead to ask them. Stifel (dealer manager) confirmed what AV shared above.
RW on Sep 22, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
If the offer succeeds it appears they will buy the remaining warrants back at 35 cents. So it seems like…
crandyhill on Sep 22, 2023
Quick Pitch: Direct Digital Holdings (DRCTW)
Thanks AV, I was not aware of that. Mkasson, my shares at fidelity also have that tendered cusip
RW on Sep 22, 2023