Not 600 situations.
The 15 a retail account can reach.
Every Sunday: global tender offers, odd-lot priorities, squeeze-outs and liquidations — explained with the arithmetic and the fine print, filtered for what a normal retail brokerage account can actually do, with the election steps and the deadline that binds: your broker’s cutoff, not the press release’s.
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01Why the big digests don’t work
Aggregators bury you.
The best digests list 500–700 situations a week across 60+ countries. Impressive — and unusable. Which have a defined payoff? Which are still open? Which can YOU actually trade?
Half the list is untouchable.
India, Taiwan, Indonesia, Brazil — great stories you cannot access from a retail account. Nobody tells you that before you spend an evening researching one.
Deadlines are traps.
The press release prints the offer’s expiry. Your broker closes elections earlier: four hours earlier on one tender we ran, two days on another. Nobody publishes the difference — the most expensive line of fine print in this niche.
02What you get every Sunday
Six things nobody else bundles.
The live situations, explained
Every live situation with its terms, gross return and annualized return for that trade, and the filing behind each number.
Odd-lot radar
Every open tender with odd-lot priority (<100 shares accepted in full, no proration) flagged and sized. The retail-only edge, tracked as a universe.
Broker reality check
A simple flag per situation: reachable at Interactive Brokers and mainstream EU brokers — or not. Plus the broker’s own cutoff wherever it is posted.
The election steps
Settlement timing, the Corporate Actions path, the exact box to tick — “No Specified Price” or “Purchase Price Tender” — and the cutoff it has to beat. Steps, not essays.
The dates that matter
Every issue lists the coming deadlines in market-local time and New York time. Broker cutoffs are printed apart from official expiries.
A public outcome record
Every closed position logged with its fill prices and realised result, losses included. See the outcome record →
03What an issue looks like
Five situations from Issue #2, published 14 Sep 2026 at the 11 Sep close. Prices and terms have moved since. Read the issue →
| Situation | Type | Terms vs px | Ann. | Odd-lot | Broker cutoff · expiry (New York) |
|---|---|---|---|---|---|
| Arbutus Biopharma ABUS · US | Odd-lot Dutch self-tender | $5.00–5.75 vs $5.12 | ~83% mid | 99 sh priority | IBKR 29 Sep 13:00 · expiry 17:00 |
| Virtus NFJ NFJ · US | Fund self-tender, 25% at 99% of NAV | 99% of NAV vs $15.70 | ~46% on slice | excluded | Expiry 5 Oct 17:00 |
| Lindsell Train LTI · UK | Trust tender, 20% at NAV −5% | NAV −5% vs 572p | ~41% | — | Elections 9 Oct 08:00 (13:00 London) |
| Oma Savings Bank OMASP · FI | Board-recommended cash tender | €17.20 vs €16.98 | ~30% | — | IBKR 23 Sep 03:00 · expiry 25 Sep 09:00 |
| Apollo Commercial ARI · US | Liquidation plan | est. $7.75–8.50 vs $6.63 | ~11–18% | — | Vote 29 Sep 10:00 · no election |
Also in Issue #2: Austriacard was left out because it closed at exactly its €10.00 offer — no spread left. Rows are cut in public, with the reason printed.
04Who it’s for
For you if…
You run your own money at $1k–$50k per position, you like defined-payoff trades with dates attached, and you would rather spend 20 minutes on worked examples than 5 hours on filings.
Not for you if…
You want stock picks, hot takes, or someone to tell you what to think. We publish facts, math and mechanics. The decisions stay yours.
05FAQ
Is this investment advice?
No. Factual event reporting, math and execution mechanics from public filings. No individualized recommendations. Do your own diligence.
Which markets?
US, Canada, UK, EU, Nordics, Japan, Hong Kong, Singapore, Australia — anywhere a mainstream retail broker can actually reach. That filter is the point.
How is this different from the big digests?
They index everything that happened. We pick out what a retail account can still do — and show how it works.
Why trust the numbers?
Every figure links to the primary filing, prices are re-checked at publication, and dead situations get killed in public — on the scoreboard, with the loss shown.
Sent every Sunday.
The next issue lands Sunday evening, New York time: the live situations, one worked example and the deadlines that bind. Read past issues.
No spam. One email per week. Unsubscribe anytime.