In short: "A company from Switzerland that we owned in the healthcare biologic space" — took a takeover offer from Samsung Biologics of Korea on the Monday of this week. Third of the three same-week bids validating the underwriting thesis.
PolyPeptide is a Swiss contract manufacturer of peptides — it makes the active ingredients for other companies' drugs. Wealhouse owned it, and on the Monday of this week Samsung Biologics of Korea bid for the company. The reason it's worth recording is the pattern: a cheap, unglamorous, non-American business bought by an international acquirer, exactly what his "value outside North America" thesis predicts should keep happening.
11:11Last week we had Rotorque from the UK get a takeover offer from Big Bad AB from Switzerland. And then on Monday this week we had a company from Switzerland that we owned in the healthcare biologic space called Polyeptide. they got a takeover offer from Sang Sam biologics in Korea. So we're our underwriting thesis our process is being validated where by which we are seeing more and more takeovers and they're happening outside of the US.
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