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Exxon Mobil $XOM is studying potential acquisition targets, including Australia’s Woodside Energy $WDS - Bloomberg @PaulAlainHunt @DNair5 @SStapczynski 🛢️Exxon has been holding early-stage discussions internally. 🛢️Woodside is one of several targets the company has been evaluating. 🛢️Deliberations are preliminary, and there is no certainty that they will lead to an offer.

The Antitrust Division of @TheJusticeDept completed its analysis of the merger of Paramount Skydance $PSKY and Warner Bros. Discovery $WBD and determined that the deal is not likely to result in harm to competition or American consumers, including with respect to: streaming video on demand (SVOD); linear television; and studio development, production, or distribution of films for theatrical release.

Roku $ROKU Exploring Strategic Options, Including Sale of Company - Reuters @DEER_ECHO_ @MilanaVinn @DawnC331 📺The company has held discussions with at least one U.S. media company about a potential combination. 📺No final decisions have been made on a potential sale. 📺The company has also explored options, including a private investment in public equity, or a PIPE transaction.

$RZLV's $300 million buyback represents around 26% of its current market cap! It is through an agreement with BTIG. The Buyback Structure: The program will be conducted through an agreement with BTIG, a global financial services firm, whereby the Company will repurchase from BTIG ordinary shares that BTIG acquires in the market within agreed pricing parameters. Approvals Required: Shareholder vote at the AGM on June 30, 2026. Board expects approval under existing voting arrangements. Also requires a UK Court approval for a capital reduction under the UK Companies Act 2006, expected by end of August. Repurchases begin after Court approval using existing cash reserves, with the company evaluating additional non-dilutive financing options

Adobe Reports Higher Second-Quarter Revenue, Lifts Outlook as CFO Exits on.wsj.com/4vNhmCI

$ETN Eaton Mobility Separation Update Eaton $ETN agreed to combine its Mobility business with Dana $DAN in a $5.1 billion Reverse Morris Trust transaction, replacing the previously planned standalone spin-off. 🤝Eaton shareholders will own at least 50.1% of the combined company, while Dana shareholders will own approximately 49.9%. Eaton will also receive approximately $1.1 billion in cash before closing. Eaton will first separate Mobility through a spin-off or split-off and then immediately merge it with Dana. The combined company will continue operating as Dana. 🚀 The deal combines Eaton Mobility and Dana to create a larger vehicle components supplier with a broader product portfolio for truck, commercial vehicle, and automotive customers. • For Eaton, the transaction completes its exit from the vehicle business and allows management to focus on faster-growing Electrical and Aerospace markets such as data centers, infrastructure, aerospace, and defense. ⏳ The transaction is expected to close in Q1 2027, subject to shareholder and regulatory approvals.

The acquisition of Masimo $MASI by Danaher $DHR was completed today. It took 113 days for the deal to be completed

Paramount said to today that competition authorities in Australia and New Zealand, as well as Saudi Arabia, Ukraine, Serbia and North Macedonia have approved its pending merger with Warner Bros. Discovery. Foreign direct investment authorities in Germany, Slovenia, Belgium, Czechia, New Zealand, Italy, France and Romania are also on board, the David Ellison-run company said in an SEC filing deadline.com/2026/06/paramou…

Grateful to @AsifSuria and Tamanna of @InsideArbitrage for having me on Episode 70 of the Special Situations Report. We covered options strategy, concentrated portfolios, Turkey, China, and AI in investing. Listen here: open.spotify.com/episode/6Xj… youtu.be/cOvm3_p_Dyo?si=1YJA… podcasts.apple.com/us/podcas…

Jana Partners is publicly calling on Fiserv $FISV to sell more non-core assets and add new directors with banking software and payments experience, per Reuters. Jana nearly doubled its Fiserv stake in Q1 to just under 1%. Stock is down ~70% in the last 12 months and trades at ~$52.72, giving Fiserv a $28B market cap. Jana supports CEO Mike Lyons and stops short of pushing a full breakup, but says that option may be on the table if valuation doesn't improve. Also cites Fiserv's potential to help banks adopt AI tools, including a recent collaboration with OpenAI.

Activist Ancora Alternatives has built a significant stake in Ashland $ASH and is pushing for the specialty chemicals company to sell itself, per Reuters. Ancora says a sale could boost the stock at least 30% to ~$76/share from ~$57.50, arguing the company trades at a discount to its standalone segments. Market cap is ~$2.7B. Unveiling the campaign at the Wolfe Research Activist Conference today. Ancora warns it is ready to launch a proxy fight if there is no tangible progress toward a deal by September's director nomination window. Largest existing shareholder: Standard Industries with a ~10% stake.

Rockwell Automation approves $1 billion for common stock repurchase and declares common stock dividend The repurchase represents around 19% of its current market cap and is in addition to the $1 billion authorization in Sept. 2024, of which approximately $215 million remains Rockwell was trading at $187.18 in 2017 when the Board unanimously rejected Emerson’s ($EMR) unsolicited proposal to acquire it...and today, it is trading at $460! $ROK

Nuvei to Value Payoneer $PAYO at about $2.7 Billion - Reuters @MilanaVinn ✴️​Nuvei is in advanced talks to acquire Payoneer. ✴️The $2.7 billion purchase ​price includes Payoneer’s cash, implying an ⁠enterprise value of about $2.3 billion. ✴️Nuvei, backed by private equity ​firms Advent International, Novacap, and Canadian investment group CDPQ, could sign a deal to acquire New ​York-based Payoneer in the coming days.

Mission Produce recently completed its acquisition of Calavo Growers, creating a vertically integrated fresh produce and prepared foods powerhouse. Now authorizes a $100M buyback (~11% of market cap) to offset some dilution from the acquisition 🤝 The Calavo Acquisition: Completed May 28, 2026 for $266M in cash 17.53M shares of Mission stock. Total shares outstanding now ~88.3M post-deal. 📊 Q2 FY2026 Results (Quarter ended April 30): ▪️ Revenue: $290.9M (beat $277M consensus by ~5%, but down 24% YoY) ▪️Net loss: $(7.2M) or $(0.10)/share vs $3.1M income last year ▪️Adj. net income: $0.8M or $0.01/share (excluding $6.4M in transaction costs) ▪️Adj. EBITDA: $7.1M vs $19.1M last year ▪️Avocado volume: 15% YoY Avocado prices: down 36% YoY (oversupply of Mexican fruit compressed margins) 🔮 H2 Guidance (includes Calavo): ▪️Q3 Adj. EBITDA: $28-32M ▪️H2 Adj. EBITDA: $84-88M - a massive step-up from Q2's $7.1M as margin compression reverses and Calavo synergies begin

GSK $GSK Acquires Nuvalent $NUVL for $9.4 Billion - 🧬GSK will commence a tender offer to acquire all of Nuvalent’s outstanding Class A and Class B common stock at a cash purchase price of $124 per share, representing a 40.13% premium over the stock’s last close. 🧬GSK will commence a tender offer within 10 business days. 🧬The merger is expected to close in Q3 2026. For comprehensive insights into this merger, click on the link below: insidearbitrage.com/2026/06/…

GSK $GSK in Talks to Buy Cancer Biotech Nuvalent $NUVL - FT @mroliverbarnes @JFK_America @aanuadeoye 🧬The companies were locked in discussions late on Monday with the aim of agreeing on a deal as soon as this week. 🧬A potential deal could value Nuvalent at between $9 billion and $10 billion.

Warner Bros. Discovery shareholders should vote against the company’s executive pay package and five directors at the June 9 annual meeting, according to Institutional Shareholder Services bloomberg.com/news/articles/…

🚀 Honeywell Reaffirms 2026 Outlook $HON reaffirmed its 2026 guidance ahead of the Aerospace spin-off, including $38.8B–$39.8B sales, 3%–6% organic growth, 22.7%–23.1% segment margin, $10.35–$10.65 adjusted EPS, $4.7B–$5.0B operating cash flow, and $5.3B–$5.6B free cash flow. 🏭 Honeywell Technologies Initial Outlook • Honeywell Technologies expects 2026 sales of $19.9B–$20.2B, 2%–3% organic growth, 19.8%–20.3% segment margin, 220–270 bps margin expansion, $3.95–$4.15 adjusted EPS ( 22% to 28%), and approximately $2.0B of free cash flow. 🔄 Honeywell said it will adjust its reporting by removing income from its overfunded pension liability and excluding Quantinuum results following its June 4 IPO to provide a clearer view of Honeywell Technologies' performance. • The company will discuss the outlook on an investor call today and provide additional details at its Honeywell Technologies Investor Day on June 11, 2026, ahead of the planned June 29, 2026 Aerospace spin-off.

Credit scoring monopoly FICO goes all-in on buybacks - Authorizes a new $2B share repurchase plan, $1.5B term loan drawn to fund it, and a $1.5B ASR launched immediately with Wells Fargo The new $2B repurchase program with no expiration represents around 8% of its current market cap and replaces the $1.5B program from just four months ago (Feb 2026) Share repurchase history: June 2025: completed a $1B repurchase program and has repurchased around 10% of its shares outstanding over the last 4 years. insidearbitrage.com/symbol-m… $FICO

Hollywood workers rally against Paramount-Skydance deal reut.rs/4ed1Usd reut.rs/4ed1Usd