Quick and timely idea: Positioned for a sale

Strategic Alts announced, offer on the table

I will keep this one short, here are the quirks:

The company just announced a strategic alternatives review. They had already received a buyout offer from private equity, which was originally declined. Given that history and the language in the press release, it reads like the company is pretty advanced in a sale process.

I put 80%+ odds on the company being sold at a premium within the next three months. I estimate the upside to be at least 19%, which works out to a 104% IRR.