Strive (ASST) Buyout Continues to Offer Upside
Shares of Semler Scientific (SMLR) closed at $32.06, well below the implied $86.30 takeout value in its announced all-stock acquisition by Strive (ASST), a discount Benchmark analyst Mark Palmers say reflects both skepticism and opportunity in the emerging bitcoin treasury M&A wave.
Palmer reiterated its buy rating on Semler while trimming his price target on the stock to $86 from $101 to reflect the terms of the Strive deal.
The fixed exchange ratio, 21.05 Strive shares per Semler share, suggests a lucrative arbitrage spread for investors, especially with both boards having approved the deal. Palmer said the market may be underestimating the long-term implications of consolidating bitcoin-heavy balance sheets under a single corporate…
