Several stocks in the Northlake portfolio have had newsworthy items over the past week. Here is a recap of the latest news, all of which I think is positive. Disney (DIS) completed the sale of almost all of its radio operations to Citadel Broadcasting (CDL). DIS shareholders received .0768 shares of CDL for each share […]
Back on April 5th, following a press release from Endeavor Acquisition Corp (EDA), updating investors on its acquisition of American Apparel (AA), I noted the news was mixed but thought that the good news (17% same store sales growth) would outweigh the bad news (a reduction in 2007 estimated EBITDA growth and the likelihood of […]
Endeavor Acquisition Corporation (EDA) announced that the deal to purchase American Apparel (AA) will proceed. AA met the requirement that 2006 earnings before interest, taxes, depreciation and amortization (EBITDA) be at least $30 million. An additional requirement that 2007 budgeted EBITDA reach $50 million was waived. The press release says that AA did not have […]
Last week I had an opportunity to talk with Elizabeth Haynes of Haynes & Company Consulting about the acquisition of American Apparel (AA) by Endeavor Acquisition Corporation (EDA). Haynes & Company Consulting is a management consulting organization specializing in retail. Elizabeth’s insights are especially valuable because she has spent time working on Wall Street and […]
Endeavor Acquisition Corporation (EDA) gained its first analyst coverage which not surprisingly was a buy rating. Lazard picked up EDA with Buy rating and a $13 target price. I haven’t seen the report but apparently it talks about EDA as a play on the growth of American Apparel. One of my reasons for entering the […]
I have to admit that I am flying a little blind on Northlake’s long position in Endeavor Acquisition Corporation (EDA), the blank-check company that has agreed to purchase American Apparel. Usually, I like to have an analyst report or two to review before making a new purchase but EDA had no coverage before it announced […]
Endeavor Acquisition Corporation (EDA) submitted an SEC filing yesterday with lots of details about its acquisition of American Apparel. Most importantly, the company provided historical and projected revenue and EBITDA figures. The data is better than I expected, particularly for 2007 and 2008, giving me greater faith in my buy recommendation and leading to more […]
Following the news that American Apparel is being purchased by Endeavor Acquisition Corp. (EDA), I decided to take a small position in EDA for client accounts. EDA is a blank-check company that went public about one year ago by raising $130 million. Blank check companies go public and then look to make acquisitions. For EDA, […]
Office
20 N 3rd Street
Bayfield, WI 54814
Mail
PO Box 1165
Bayfield, WI 54814
tim@northlakecapital.com
847-226-9713
