Diamonds and Dogs

12/12/22

Merger Monday. Three buyouts to start the week with drug company, Horizon Pharma (HZNP) up 15% on a buyout from Amgen, software firm, Coupa Software (COUP) up 25% after agreeing to be taking private by Thoma Bravo and grilling company, Weber (WEBR) up 23% after agreeing to be taken private by BDT Capital Partners.

The dog today is also Weber Inc (WEBR) down 42% in the last year after coming public in August of 2021. BDT Capital Partners brought Weber public last year to take advantage of the stay at home plays during the pandemic. However, after initially rising in its first week of trading, Weber has been on a steady decline over the last year. One year later management agrees to be taken private 40% below last years valuation by, you guessed it, the same private equity firm, BDT Capital Partners.

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