Buyback Announcements and News

12/26/2025

Coforge to buy Encora for EV of $2.35B (INR211.34B); payment to be made in shares valued at INR1,815.91/share (INR 1673.25, 0.00)

  • The transaction will be financed through:
    • Equity value of $1.89B, paid in the form of equity shares through preferential allotment by Coforge. This will result in shareholders of Encora holding 20% of the company's shares.
    • A bridge loan or Qualified Institutional Placement (QIP) of up to $550M to retire the term loan in Encora. The pricing of the QIP will be determined by SEBI regulations at the time of the transaction. QIP is one of the many funding options being considered only to retire the debt. If we do decide to do a QIP, it will only happen around closing, which is around six months away. We shall also explore other options of funding other than a QIP, hence there is a possibility that a QIP may never be triggered.
  • The board has approved issuing the shares involved in satisfying the bullets above.
  • With Encora's current margin profile, and the anticipated synergies in the business, the combined business is expected to operate at an EBIT margin of 14% post amortization of intangibles that will be created as part of the purchase price allocation for this acquisition.
  • Despite the primary infusion, the deal is not expected to be EPS dilutive on a consolidated basis because of the strong margin profile of Encora and expected synergies from the two businesses coming together.
  • StreetAccount notes that the announcement confirms this morning's story in Moneycontrol.

12/25/2025

Westaim intends to make normal course issuer bid for up to 1.9M shares; to terminate current NCIB commenced on 1-Apr (C$26.53, 0.00)

  • In connection with the NCIB, the company entered into an automatic share purchase plan with TD Securities to allow for purchases of its common shares.
  • The company may, during the 12-month period commencing 1-Jan-26 and ending 31-Dec-26, or on such earlier date as Westaim completes its purchases or provides notice of termination, purchase up to 1.9M Shares in total, representing ~10% of Westaim's public float of Shares as at 16-Dec-25.
  • Under the Terminated NCIB, as of 16-Dec, Westaim purchased an aggregate of 337K shares.

12/24/2025

White Mountains announces final results of previously announced tender offer ($2090.90, 0.00)

  • Based on the final count by the depositary for the tender offer, 64,064 shares were properly tendered and not properly withdrawn at or below the final purchase price of $2,050.00 per share.
    • The company is purchasing all validly tendered shares for ~$131.3M.
    • The shares purchased in the tender offer represent ~2.5% of White Mountains's shares outstanding as of 19-Nov-25.
  • Note White Mountains had reported on 22-Dec that the preliminary count indicated that 67,186 shares had been tendered and that the company expected to repurchase the tendered shares for ~$137.7M (see linked comment)

12/24/2025

Cerence announces repurchase of $30M of its 1.50% convertible notes due 2028 ($11.30, 0.00)

  • Cerence announced that, in light of its current cash position and outlook for future cash generation, the company entered into privately negotiated transactions with certain holders of its 1.50% Convertible Senior Notes Due 2028, pursuant to which the company agreed to repurchase $30M of the Notes from such holders at a cash repurchase price equal to 92% of their principal amount
  • Assuming completion of the repurchase of the Notes, the company will continue to evaluate cash on hand and the market for the remaining $180M of Notes through maturity in 2028.

12/24/2025

Stonepeak to acquire 26% stake in Castrol India at INR194.04/share via mandatory open offer (INR 189.60, 0.00)

  • The initial offer price, will be up-to INR49.90B
  • The offer is being made by Motion JVCo with support of PACs that include:
    • Stonepeak Motion Holdco Limited
    • Stonepeak Infrastructure Fund V Cayman (AIV I) LP
    • Stonepeak Infrastructure Fund V (Lux) (AIV I) SCSp
    • CPP Investment board Private Holdings (6) Inc.
  • Following the acquisition and open offer, Motion JVCo will directly/indirectly hold 77% stake in Castrol India (51% via acquisition of Castrol Group as it is a promoter holding 51% stake and 26% stake from the open offer)

12/24/2025

Nike director Tim Cook disclosed buying 50K shares (yesterday post-close) ($57.34, 0.00)

  • Cook beneficially owns 105.5K shares following the transaction.

12/24/2025

Insider transaction: WhiteHorse Finance CEO Stuart Aronson discloses purchase of 17K shares - Form 4 ($6.78, 0.00)

  • Aronson beneficially owns 67K shares of common stock following the transaction.

12/23/2025

Insider transaction: Abundia Global Impact Group CEO Edward Gillespie discloses purchase of 38K shares - Form 4 ($2.03, 0.00)

  • Gillespie beneficially owns 38K shares of common stock following the transaction.

12/23/2025

Insider transaction: NET Power holder 8 Rivers Capital discloses sale of 330K shares - Form 4 ($2.17, 0.00)

  • 8 Rivers Capital, LLC beneficially owns 2.22M shares of common stock following the transaction.

12/23/2025

Insider transaction: Zumiez President - International Adam Ellis discloses sale of 7.3K shares - Form 4 ($27.70, 0.00)

  • Ellis beneficially owns 60K shares of common stock following the transaction.