Aug. 11 at 10:37 AM
$SLS
OK ... # 2
As I've said often, my #1 holding SLS is the best asymmetrical investment I've found in my 43 years of investing !!
NOW #2 ...
$RYAM
In Nov 2025, PE firm AIP made a secret & unsolicited offer to BO RYAM for
$11–
$12 per share in cash, which was secretly turned down by the RYAM board in Dec.
Since then, AIP has bought a 5.1% stake & re-engaged in talks ... RYAM has hired Morgan Stanley as advisor ... And, a big activist holder called for its sale.
AIP wants to consolidate RYAM with another firm in the same field it just purchased for
$1.5 Bil -- they have a long history of doing these consolidation deals !
In June, RYAM hired a new CEO with deal experience ... he received LPUs which maximize for him if he doubles 6-23-26 stock closing price of
$8.07 within 3 yrs ... CEO just stated in Q2 call that path forward for company will be clearly announced in the 4th quarter.
IMO, this deal gets done at
$16.15 in Q4 this year !!!
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