$ASC (ASOS) Smells Like a Buyout

Firstly, this is listed on the London Stock Exchange, its not ASC the shipping company, I'm talking about ASOS PLC. Current Market Cap: £340m Cash on Hand: £318m Revenue: £2.46bn Cash runway to 2030+ and flipping FCF positive. Which means they're trading at a Price to sales of 0.13, almost 3 times cheaper than popular bargain names like [JD.com](http://JD.com) What's more is the company is flipping back to profitability and if this continues their FCF could easily exceed their current Market Cap, which would force a complete repricing of its stock. Adjusted EBIDTA up 60% and Margins up 45-47% Insiders are clearly betting on that taking place with insider owned Camelot Capital purchasing shares almost every single trading session. William Barker owns Camelot Capital and also happens to be a board member and serves as deputy chair of ASOS. Now why would he and two other firms be so aggressive towards buying the entire float. * HEARTLAND A/S  28.3% ownership 33,775,687 shares * Mash Holdings Topco Limited (associated with Frasers Group PLC) 23.4%(around 27,900,414 shares). * Camelot Capital Partners LLC  15.4-15.5% 18,473,399 shares. (Owned by the chair of ASOS) Every time Ive seen this type of top heavy share accumulation it leads to a buyout; Just like Walgreens, EA, Skechers, Metro AG and TKO holding WWE, they all saw the exact same mass accumulation of shares right before and into a premium buyout offer. Their second top investor happens to be Fraser Group whom owns Sports Direct, Flannels, [Sofa.com](http://Sofa.com) and even Game stores. The other interesting option is a buyout from Asia, names like TEMU and others have attempted multiple times to get a listing on the UK stock exchange. A buyout of ASOS would give them access to European distribution, a well established brand AND listings on the London Stock Exchange. Now I could be way off the mark here but given they have cash runway until 2030+ and given it's literally one of the most underpriced $1bn+ revenue stocks listed (on any exchange) it feels worth a punt. Take a look into it and see what you think, I plan on buying some more calls and shares now.