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Below Deck’s Damo Yörg on Fraser Olender Kiss

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Below Deck Season 12 Trailer Teases Shocking Crew-Guest Sex Scandal, Police Incident

Below Deck‘s first season 12 boatmance has set sail.

Returning Chief Stew Fraser Olender and new Deckhand Damo Yörg made the moves on each other during a crew hot tub party on the Bravo series’ June 23 episode—and the costars’ steamy, wet and wild makeout shocked their fellow yachties.

“Fraser is a good kisser,” Damo admitted in a confessional after their PDA. “I have absolutely kissed a bloke before. Sometimes, you wanna keep things fresh and change it up.”

The Bravolebrity went on to share how he discovered he was

“I was watching TV one day, I saw this guy and I was like, ‘That guy’s good looking.’ And I was like, ‘F–k, am I gay?'” Damo recounted. “I guess I’ve always been open to it because I’ve always thought I was or would potentially be gay. Like 50 years old, two kids, wife, house and go, ‘Oops, darling, I want to run off with Rodrigo the pool boy now.'”

Children with speech issues risk poor mental health, charity says

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Kate McGough

Education reporter, BBC News

Getty Images A female therapist with dark hair sits with a little girl during a speech therapy session. They are using colourful letters as the therapist holds them up one by one and works through the sounds with the little girl.Getty Images

Children struggling with their speech and language are at greater risk of developing mental health problems like anxiety and depression, the charity Speech and Language UK has warned in a report seen exclusively by the BBC.

The charity says almost half (45%) of all young people referred to mental health services are also dealing with serious speech and language challenges.

That can include difficulties with learning new words, understanding non-verbal cues or stammering during speech.

The government says it will “ensure thousands more children receive the help they need to overcome challenges with communication” through its Plan for Change.

A record two million children in the UK are experiencing issues with their speech and language, according to Speech and Language UK.

And one in five children and young people aged eight to 25 experienced a mental health problem in 2023, according to the NHS.

Speech and Language UK’s chief executive Jane Harris says children who struggle with talking and understanding words are more likely to develop poor mental health.

“Everyone uses words to identify how they’re feeling. If you’re struggling with language, you can’t say to yourself, ‘I’m sad, I’m angry.’ You can’t categorise how you’re feeling,” she says.

“So if we’ve got more and more children who are struggling with language, we’re going to end up with more and more children with mental health problems.”

The charity wants better training in speech and language for teachers and school support staff, as well as mental health professionals, and better information sharing between schools and mental health teams to spot language issues in children at an early age.

In a joint report with the Centre for Mental Health, the authors call for schools and mental health teams to move away from a reliance on talking-based therapies, adding that solutions like art therapy could sometimes be more appropriate.

The government has committed to providing access to mental health support in every secondary school in England by 2030. Speech and Language UK says it’s important those mental health teams in schools have mandatory training in spotting speech and language issues too.

“They need to spot when a child has both communication and mental health issues, but also they need to make sure that whatever mental health support they’re giving them is actually adapted and is suitable for that child.”

Speech and language is the most common form of support for children in England with special educational needs, according to the latest data.

For around one million young people across the UK, speech and language challenges can last a lifetime, due to conditions like cerebral palsy, autism, or hearing impairments. An estimated 800,000 of those have developmental language disorder, known as DLD, a condition where people have long-term challenges talking or understanding words.

Siouxsie, 19, has lived with DLD since she was a young child and finds it hard to put her ideas into words. She also has selective mutism, driven by anxiety.

She says she didn’t get the right support as a child, which has impacted her ability to communicate as an adult.

Family handout A head and shoulders picture of a young blonde girl wearing sunglasses and smiling at the camera. Family handout

Siouxsie says her communication problems have gone hand-in-hand with her mental health issues

“All my mental health struggles go completely hand-in-hand with my severe DLD and being misunderstood and feeling invisible. I find everything so hard as I cannot speak up,” Siouxsie says, speaking to us over Zoom alongside her mum Rachel, after we sent her some of our question areas in advance.

“To do things in life you have to continuously listen, understand and process what is being said. For someone like me this is just completely exhausting.

“I get really anxious in restaurants, in cafes, shops, in any group situation, even at the hairdressers, so I don’t go.”

She says she has found a creative outlet in the form of dance, and wants to study dance, mime and physical theatre, but is struggling to find a course she can access.

Siouxsie has been receiving support from Speech and Language UK with her communication and says she is still working with a speech and language therapist.

The BBC have approached Siouxsie’s mainstream primary and secondary schools for a response to her claim that she was not well-supported as a child.

Responding to the report, a Department for Education spokesperson said: “Our Nuffield Early Language Intervention programme is providing support with speech and language development for tens of thousands of children in reception year, and we are going further, faster by working with NHS England to embed specialist support for children struggling with communication in early years and primary school settings – preventing issues from escalating.

“We’re also taking action to cut NHS waiting lists, reform the Send system to prioritise early intervention and expand our mental health support teams to an additional 900,000 pupils by April 2026 so every child can achieve and thrive.”

Here’s how Iran could retaliate against the US if diplomacy fails

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President Trump expressed optimism Monday that the war between Iran and Israel was coming to an end, just hours after Iran launched largely symbolic strikes on a U.S. military base in Qatar that were intercepted.

Experts say the U.S. should remain on alert for Iranian threats, even as a fragile ceasefire takes shape. Iran’s leaders have touted “a variety of options” for getting back at the U.S. for bombing three of its nuclear enrichment facilities on Saturday — and some of them would be much harder to trace than missiles.

“We’ve got 46,000 troops overseas. We’ve got three carrier battle groups going to be out there. There’s lots of asymmetric things that the Iranians can do,” retired Army Brig. Gen. Steve Anderson, who served in Iraq during the 2007 troop surge, said Monday on CNN. 

“They can do cyber warfare against us, they can exercise terrorist attacks. We talked about sleeper cells coming alive here in the United States and, oh, by the way, they can take economic action and just close the Strait of Hormuz,” he added. “So there’s a lot that the Iranians can still do.”

Here’s how Iran could take revenge on the U.S.:

Cyberattacks

Iran, though hamstrung in its military might thanks to a more than two week Israeli air campaign against Tehran, still possesses a sophisticated offensive cyber capability. 

Cliff Steinhauer, director of information security and engagement at the National Cybersecurity Alliance, sees denial-of-service attacks as the most likely option, “where they launch a bunch of traffic toward a government or a contractor’s website.”

Steinhauer told The Hill these attacks would probably be directed at targets without significant cyber defenses, including infrastructure in local municipalities and smaller cities and counties. “You might see some potential activity, bells going off, but maybe not like a full shutdown of a power plant or real manipulation of controls in a water treatment plant.”

“They probably want to scare us more than they want to damage us at this point in terms of cyber capability,” he added. 

Iran is considered one of the top four nation-state adversaries against the U.S., in addition to China, Russia and North Korea — countries that Tehran could also team up with to overcome any gaps in their cyber capabilities.

Tehran has set a precedent for using cyber methods to retaliate against Washington. After the January 2020 U.S. airstrike that killed Maj. Gen. Qassem Soleimani, the head of Iran’s elite Quds Force, the U.S. detected Iranian attempts to target U.S. government agencies and critical infrastructure, according to Steinhauer.

Additional military attacks

Iran is believed to have about half of its original stock of roughly 3,000 ballistic missiles after exchanging fire with Israel over the past two weeks, armaments that can be used against 19 sites across the Middle East, where U.S. forces are located.

The Iranians on multiple occasions warned it would retaliate against American forces in the region should the U.S. enter the war with Israel. 

Tehran appeared to make good on that promise on Monday when it launched multiple missiles at Al Udeid Air Base in Qatar at around 7:30 p.m. But the attacks appeared carefully planned to avoid escalation and caused no reported casualties. 

While this Iranian response appeared largely symbolic, the country could seek to hit at the U.S. in more anomalous ways, such as by targeting American diplomatic, consular or trade missions.

Another option could be to call on its proxy groups across Iraq, Yemen and Syria — militants who have previously launched attacks on American assets in the region.

And in the region’s waterways, Iran could choose to launch so-called swarm attacks on U.S. warships using drones and speed boats equipped with missiles and rockets, a practice that its Revolutionary Guards Corps Navy has practiced exhaustively over the years.

Retired Gen. Frank McKenzie, a former commander of U.S. Central Command, on Sunday said he believed U.S. troops in Iraq and Syria were “certainly vulnerable” to retaliatory attacks by Iran.

Closing the Strait of Hormuz

One option that would have massive global consequences would be to close the Strait of Hormuz, a vital shipping route through which more than 20 percent of the world’s oil supplies pass daily. 

The waterway, which connects the Persian Gulf to the Arabian Sea, is the main channel through which oil and liquefied natural gas from the Middle East are exported to the rest of the world. 

Roughly 20 million barrels of oil pass through the strait every day, according to the U.S. Energy Information Administration.

Choking off the waterway, by possibly laying sea mines or attacking naval and commercial shipping, would have devastating consequences for the global oil market. 

While Iran has not yet actively disrupted the global oil flow, the Iranian Parliament’s national security and foreign policy committee on Sunday proposed that the Strait of Hormuz be closed in response to the U.S. attack, Tehran state media reported.

Sleeper cells

Trump administration officials have warned Iran may try to activate sleeper cells in the U.S. and the West as one method to hit back at Washington.

U.S. Customs and Border Protection (CBP) on Sunday said the threat of sleeper cells in the U.S. has “never been higher,” according to a memo from CBP Commissioner Rodney Scott. 

Scott said “thousands of Iranian nationals have been documented entering the United States illegally and countless more were likely in the known and unknown” ways.

“Though we have not received any specific credible threats to share with you all currently, the threat of sleeper cells or sympathizers acting on their own, or at the behest of Iran, has never been higher,” Scott added, urging CBP personnel to remain “vigilant.”

Leon Panetta, a former Defense secretary and CIA chief during the Obama administration, told CNN on Thursday that sleeper cells were a real concern. 

“They operate that way, not just in the United States, but around the world. They operate with secret cells. They operate on the basis of terrorism and assassination. That’s something Iran is very capable of and has shown it can do that in other areas,” he said.

“So I think the United States has to be very concerned about that kind of effort to raise hell here in the United States.”

Stock Futures Fall Moderately as Oil Adds Nearly 4% After Iran Attack

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Stock Futures Fall Moderately as Oil Adds Nearly 4% After Iran Attack

Yale’s new Google Home smart lock is here — but it costs more thanks to tariffs

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The Yale Smart Lock with Matter is launching tomorrow, June 24th, for $189.99 — $20 more than when it was first announced in March. Yale tells The Verge the price increase is due to the impact of tariffs. The lock will be available on Amazon and Yale’s website.

According to Yale, the new smart lock was built for Google Home and Matter and designed specifically to complement Google Home’s Nest video doorbells. However, thanks to its Matter-over-Thread connectivity, it can work with multiple smart home platforms, including Apple Home, Amazon Alexa, Samsung SmartThings, and Home Assistant.

In a briefing, Catelyn Herman, senior product manager at Yale, told The Verge that “tariff costs and overall product costs led us to have to increase the price slightly.” All the other features are the same as when it was first announced, which is also when Yale confirmed it had discontinued the two companies’ previous collab: the Next x Yale lock.

The new lock comes in white and gray to match Google’s Nest doorbells as well as black.

The new lock comes in white and gray to match Google’s Nest doorbells as well as black.
Image: Yale

The new Yale Smart Lock with Matter comes in white, black, and, this fall, gray. It has a promised 12 months of battery life on 4 AAs, thanks to Matter-over-Thread connectivity, which should also provide faster response times compared to Wi-Fi or Bluetooth locks. It’s one of a growing number of full-deadbolt replacement locks that use the new protocol; others include Kwikset’s Halo Select, Level Lock Plus, Eufy E30, U-tec’s Matter lock, and Yale’s Assure SL.

Several control methods are available, including inputting a code on its backlit push-button keypad and using a key. You can lock and unlock it remotely using the Google Home app (as well as other Matter-apps) and with your voice control via Google Assistant, Amazon Alexa, and Apple’s Siri. Jesse Stroh, product manager at Google Home and Nest, confirmed that you can now unlock Matter locks using a voice PIN code via Google Assistant.

Unlike the Nest x Yale lock that could disarm Google’s Nest Secure security system, the new lock won’t integrate with any security system at launch, which is surprising considering both Yale and Google’s close relationship with home security company ADT.

The new Yale lock has a push-button keypad with backlighting and a keyway.

The new Yale lock has a push-button keypad with backlighting and a keyway.
Image: Yale

Unlike Yale’s other locks – including the Yale Assure 2 line – the Yale Smart Lock doesn’t have an auto-unlock function, just auto-lock. The lock also features a keyway, which the Nest x Yale didn’t. Herman says Yale’s research shows that a push button and a keyed option are what most people prefer. I’m on board with the push buttons, but I think these locks would look much sleeker without the keyhole.

The lock can work with any platform that supports Matter, but Stroh said it has a “best in class integration with the Google Home platform.” He said it’s able to take “full advantage of the Matter features Google Home supports.”

These currently include creating and editing codes for the lock, including guest codes with set schedules. You can also view lock activity in the Home app’s activity feed and get lock and unlock notifications, said Stroh, adding that current Google Nest doorbells will integrate with the lock so you can control it while viewing a live feed from the doorbell.

Based on my experience using Matter-enabled locks in Apple Home and Samsung SmartThings, you should get these same features on those platforms as well. But, while it will work with other platforms, it’s clearly designed to appeal to Google Home users. Although those who are looking to upgrade from the Nest x Yale lock may not be thrilled with the new look. The white and gray may match the Google Nest doorbells, but without the options of rubbed bronze or satin nickel that the Nest had, it’s not going to match your existing door hardware.

One benefit of the new lock is that you can set it up directly in the Google Home app (or other Matter app) without needing to use the Yale app. However, as a Matter-over-Thread device, it does require a Matter controller and a Thread border router; the Matter hub needs to be a Google one if you want to use it in the Google Home app.

Without these, you can control the lock using the Yale Home app over Bluetooth, something Yale’s other Matter-over-Thread lock, the Yale Assure SL, didn’t offer. But this only works when you’re in range, i.e., at home, as there’s no built-in Wi-Fi.

The lock can work over Wi-Fi with Yale’s $90 Wi-Fi Connect bridge, but I wouldn’t buy that just to use this lock. You’re better off picking up something like the Google TV Streamer for $95 to get the Thread connectivity, Google Home Matter hub, and a good streaming box. I plan to review the Yale Smart Lock soon.

Keegan Bradley mulls idea of being playing captain for Ryder Cup

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Will Keegan Bradley be a playing captain for the U.S. Ryder Cup team at Bethpage Black in September?

After winning the Travelers Championship on Sunday, that’s a decision only he can make.

“This changes the story a little bit,” Bradley said Sunday about his Ryder Cup role. “I never would have thought about playing if I hadn’t won. This definitely opens the door to play. I don’t know if I’m going to do it or not, but I certainly have to take a pretty hard look at what’s best for the team.”

Bradley has moved to No. 9 in the Ryder Cup standings and a career-best No. 7 in the Official World Golf Ranking. His two PGA Tour wins in the past year are more than that of any American except world No. 1 Scottie Scheffler.

“It’s such an unbelievable thing in that I spent 15 years of my career here [on the PGA Tour]. Every year my goal is to make the Ryder Cup team,” Bradley told “Golf Central” on Golf Channel on Sunday. “And then this would be the year where I was like, ‘You know, I’m excited to just be the captain.’ And then, of course, something like this happens.

“We’ll see. This definitely changes things. I definitely wasn’t going to play if I didn’t win. I want to put my team in the best position to win. If we get down to it and that me playing is how that’s going to be … I will play if I feel like it will help the team.”

He said if he does play, he would do so as a playing captain and not have one of his vice captains — Jim Furyk, Kevin Kisner, Webb Simpson and Brandt Snedeker — take over the role.

The top six players in the points standings after the BMW Championship on Aug. 17 will automatically make the team; Bradley will also make six captain’s choices. Scheffler, two-time major winner Xander Schauffele and U.S. Open champion J.J. Spaun are the clear top three at this point, with Russell Henley, Bryson DeChambeau and Justin Thomas rounding out the top six.

Collin Morikawa, Ben Griffin, Bradley, Harris English, Maverick McNealy and Brian Harman are the next six in the points race through Sunday.

“When I’m inside the ropes, it’s the only time I can escape this Ryder Cup thing,” Bradley told Golf Channel about the surge in his game. “So sometimes, when you can find peace inside the ropes, you play your best golf. When I leave the ropes, when I go home, I’m 24/7 Ryder Cup. And when I’m able to come here [to the course], especially when I’m not playing with a Ryder Cup player … and I don’t have to be the captain, it’s sort of nice and peaceful. That’s the only thing I can point to.”

Two years ago, Bradley was devastated when then-U.S. Ryder Cup captain Zach Johnson left him off the 2023 team in favor of Thomas as a captain’s pick.

In 2024, Bradley, now 39, was chosen by the PGA of America to lead the U.S. team for the 2025 matches at Bethpage Black in New York — the youngest American captain since Arnold Palmer was a playing captain in 1963.

“I was nervous [about being captain],” Bradley told Golf Channel. “I had a few people in my camp that didn’t want me to do this because they were worried I’d play terribly, and I was concerned about it.”

Bradley said the thought of actually playing at Bethpage Black hadn’t really crossed his mind earlier this season, but as his game has surged, it’s not out of the realm of possibility.

“I never really planned on playing. I really wanted to just be the captain,” Bradley said. “I really felt strongly about that. I want to serve the guys. They asked me to do a job. I want to do it to the best of my abilities.

“Now, with the amazing vice captains that I have, and I have a better perspective of playing in the Presidents Cup and being around a lot of the guys, I feel a lot more comfortable if I went that route.”

Bradley, who is from New England and played college golf at St. John’s, last played in the Ryder Cup at Gleneagles in Scotland in 2014. He made his Ryder Cup debut at Medinah in 2012.

The Ryder Cup will be held Sept. 26-28 at Bethpage Black in Farmingdale, New York

The Associated Press contributed to this report.

The Best Cooling Sheets to Keep You Comfy & Sweat-Free, All Night Long

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Personally, I’m not a hot sleeper and don’t suffer from night sweats (brag), but I do sleep next to a person who does, so I get it. A bed sheet that’s too warm can keep you from a solid night’s sleep, so you need comfortable bedding that will circulate the air. The best cooling sheet and sheet sets are made of a breathable fabric that also handles moisture well. There are tons of options out there, so I’ve put together a list of possibilities, including a wide variety of materials and aesthetics, to help you achieve the sleep of your dreams.

What to Consider When It Comes to Cooling Sheets

•Material: The most breathable and cooling sheet materials are typically those made from natural fibers, like cotton and linen (keep an eye out for cotton sheets with a percale weave, which tends to be cooler than a sateen weave). You’ll also find that sheets made from some synthetic fabrics can be soft and lightweight for a hot sleeper, like Lyocell (aka Tencel), which is a type of rayon that is chemically processed from eucalyptus trees, and bamboo, which is another type of rayon that also goes through a chemical process from bamboo wood. Microfiber sheets are typically not as cooling as cotton, but some options came with such high ratings and low price points, that I included them.

•Moisture-Wicking: All of the sheets below are breathable, but if you’re experiencing night sweats, you might want a sheet set that also absorbs moisture and wicks it away from your skin. Not all breathable sheets are moisture-wicking, but I’ve indicated below when they include that feature. 

At-home HPV test kits to be offered to thousands of women in England

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Getty Images Picture of a nurse holding a cervical screening testGetty Images

For the first time, at-home HPV tests will be offered to some women in England

Women who have delayed coming forward for cervical screening will be offered a test to be taken at home, NHS England has said.

The DIY test kits, available from January, contain a long cotton-wool bud to swab the lining of the vagina.

The test is for human papillomavirus (HPV), which causes most cervical cancers, and women between the ages of 25 and 64 are offered it every few years.

But more than five million women aren’t up to date with the test, according to the government.

The Department for Health and Social Care in England said the scheme would tackle “deeply entrenched barriers” that keep women away from cervical screening.

This can be due to embarrassment, discomfort, lack of time as well as religious or cultural concerns.

Just 68.8% of women currently take up the offer of cervical cancer screening – well below the NHS England target of 80%.

Younger women, those with a disability, ethnic minority communities and LGBT+ groups are more likely to miss appointments.

A recent trial showed the rollout of home test kits across England could increase the proportion screened to 77% over three years.

The Department of Health said women who had rarely or never attended cervical screening would be offered a self-sample kit to complete at home.

The kits are sent out “in discreet packaging” and the return postage is pre-paid.

The test checks for HPV alone, but if that’s detected then women will be invited for to see a doctor who will check for cell changes which could indicate cancer.

Health and Social Care secretary Wes Streeting said: “We know the earlier cancer is diagnosed the better the chances are of survival.

“By making screening more convenient, we’re tackling the barriers that keep millions of women from potentially life-saving tests.”

Michelle Mitchell, chief executive of Cancer Research UK, said “beating cervical cancer means beating it for everyone” adding that at-home testing “helps to bring us closer to that goal”.

‘I’m absolutely thrilled’

Hazel Stinson, 49, from Kent, suffers from chronic fatigue syndrome and was last able to visit the GP for a cervical screening six years ago.

She says she is “absolutely thrilled” that at-home testing is being rolled out across England.

“This will mean that I and millions of other people just like me will be able to have the test when otherwise they might not be able to do it,” she added.

Ms Stinson said as someone with chronic fatigue, which is also known as myalgic encephalomyelitis or ME, “the most important thing is to advocate for yourself”.

She says she has always been left “feeling fearful” that her inability to attend the GP regularly for tests like cervical screening could really affect her health.

“I’m unwell enough as it is – I really don’t want anything else on top of this,” she explained.

Main symptoms of cervical cancer

  • vaginal bleeding that’s unusual for you – including during or after sex, between periods or after the menopause – or heavier periods than usual
  • changes to vaginal discharge
  • pain during sex or in the lower back, lower tummy or between the hip bones (pelvis)

Source: NHS

'Taylor Swift tax' proposed in Rhode Island

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(NewsNation) — Rhode Island officials have shared their latest budget proposals, with one being unofficially referred to as a “Taylor Swift tax” on second or seasonal homes.

The Rhode Island Association of Realtors has raised concerns that the proposed changes, which would also reportedly increase a seller’s fee by 63 percent overall, would hit both home sellers and buyers, potentially making the market more unaffordable.

The association’s president, Chris Whitten, told NBC 10 News, “Please, don’t take from our housing market at the moment to balance the budget for other items, it’s going to be detrimental.”

‘Taylor Swift tax’ to affect second homes worth over $1M

The budget proposals are specifically targeting the high-end vacation homes. The unofficially named “Taylor Swift tax” would put a new surcharge on second homes that are worth over $1 million. If this proposal is approved, it would add an additional fee for owners of nonprimary residences that are empty for over half the year.

That annual fee would be $2.50 for every $500 of value that is above the $1 million mark. So, a home that is $2.5 million and sits empty for over half the year could have an extra $7,500 in taxes each year.

For Swift’s Watch Hill estate, she could owe an additional $136,000 a year in taxes.

Westerly, RI – August 22: A man fishes at the Watch Hill Lighthouse for stripped bass with home of Taylor Swift in the background during the eye of the Tropical Storm Henri in Westerly, RI on Aug. 22, 2021. (Photo by Matthew J. Lee/The Boston Globe via Getty Images)

Swift purchased that estate, which is three floors with seven bedrooms and nine bathrooms, in 2013 for $17.75 million. She has been known to have celebrities over for parties, including her Fourth of July parties.

Called the Westerly Mansion, the home built in 1904 was also the inspiration for one of the songs on Swift’s 2020 “Folklore” album, “The Last Great American Dynasty.”

The other proposal would affect what sellers have to pay during closing. The conveyance tax would go from $2.30 to $3.75 for every $500, which would be a 63 percent increase.

According to Zillow, the average selling price of a home in Rhode Island is around $492,939. With the new rate, the tax would go from $2,200 to $3,700.

The 7 Signs Your Stock Is A Buyout Target

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Image by Mer_Studio via Shutterstock
Image by Mer_Studio via Shutterstock

Private equity doesn’t chase headlines—it hunts in silence.

Armed with over $2.5 trillion in dry powder (Moonfare, May 2025), PE firms are scanning the market for overlooked opportunities. At the same time, a new wave of activist campaigns is hitting companies with soft margins, lazy capital allocation, or underperforming business lines. The market may not see it coming, but smart money already has. This process isn’t about guesswork. There are real signals that show when a company is moving from forgotten to target. I have spent three decades studying these patterns, and when three or more appear simultaneously, the playbook begins to take shape. If your company meets a few of these criteria, it might already be under consideration for a buyout. Here are the key factors to consider and the potential timeline for a buyout.

The first thing private equity looks for is simple: boring, dependable cash flow trading at a discount. If a company consistently generates EBITDA and trades at a multiple under 10x, it’s a target. Especially if that revenue is sticky, think of long-term contracts, essential services, or subscription-like models. The public market often overlooks these businesses. But the private market sees something different: a stable cash engine that can be leveraged, optimized, and rerated. Waste management, healthcare services, and packaging are textbook examples. These aren’t flashy names. They are often overlooked and underappreciated, despite their obvious presence. But for smart capital, that’s exactly the point. If the earnings are reliable and the valuation is low, the setup is already in motion.

The next flag is underperformance. Underperformance is particularly concerning when compared to peers. Whether it’s lagging margins, poor return on invested capital, or a string of missed expectations, it signals operational slack. And activists love slack businesses. They don’t shy away from weakness; they see a value gap begging to be closed. Sometimes the whole business is dragging, but more often, it’s a conglomerate problem: strong segments buried under bloated cost structures or legacy units. That’s exactly what made (MMM) a target: a solid industrial core overshadowed by litigation and noise, ripe for a breakup. In this game, underperformance isn’t just a problem. It’s an opportunity for those ready to force the change the market has ignored.

Private equity loves a fragmented industry because fragmentation means opportunity. When no single player dominates and the top five control less than 50% of the market, it’s ripe for consolidation. That’s where PE firms go to work: buy the best-run operators, bolt on smaller competitors, and drive scale advantages the market hasn’t priced in. You’ll see it in aggregates, dental, logistics, pet care, and even regional financials. In these markets, the playbook is simple: become the acquirer or get acquired. Either path leads to a re-rating. For PE, fragmentation isn’t chaos. PE is ready to enforce its structure and extract its alpha.

Hard assets are a magnet for private equity. When a company owns valuable real estate or infrastructure, its stock often trades below the true value of these underlying assets, especially if the company’s earnings profile appears average. But PE firms know better. They don’t just buy the business; they also unlock the balance sheet. Sale-leasebacks are the classic move: monetize the property, keep operations running, and extract capital without touching the income statement. This is why casual dining chains like (EAT) and (BJRI) keep popping up as targets: they sit on prime real estate, which the market rarely values correctly. The takeaway? If your company occupies space that others rent, and the market fails to place a value on it, someone else will.

New leadership in a company is never just a cosmetic thing, it’s often the start of structural change. A newly appointed leader usually comes with a fresh look and a mandate: cut costs, review the portfolio, and consider bold moves. Smart money watches occupy space that others rent, and the market fails to place a value on fitness for transformation. Board turnover is another tell. Whether it’s activist pressure or a shift in a strategic direction, new directors often bring new agendas. If you start hearing phrases like “exploring strategic alternatives” on earnings calls, that’s not filler; that’s code for “the door is open.” For private equity and activists, a leadership shakeup isn’t noise. For private equity and activists, a leadership shakeup signals an opportunity.

If you observe early activist footprints or insider buying, it’s crucial to take notice; these signals often precede significant changes. Small 13D filings, initial positions from known activist funds, or even quiet insider accumulation following a selloff often precede major moves. Activists don’t always go public immediately. Before launching a campaign, activists probe, build stakes, and engage in behind-the-scenes activities. Meanwhile, insider buying, especially from C-suite or board members, can signal internal confidence in pending restructuring or sale. These aren’t random trades. They’re breadcrumbs from people with better visibility. If you have the ability to interpret them, they can guide you towards the next significant event before it occurs.

The market might make the business seem more complicated than it really is. The stock trades like it’s too complicated or broken, even when you can see a clear, cash-generating model that is often narrow and stable. That gap presents a fantastic opportunity for spinoffs, carve-outs, or sum-of-the-parts strategies, where the valuation is significantly higher when the company is divided. Putting the company in the wrong peer group or its reporting structure could mask its true value. Smart investors can discern the true value amidst this noise. The playbook here is the same: get rid of the distractions of the business, make the story clearer and cleaner and start the re-rating. When the market misinterprets clarity for disorder, private equity and activists intervene to correct the situation and profit from the discrepancy.

Stay Ahead Of The Smart Money

Just because a company lands on a buyout watchlist doesn’t mean the stock pops overnight. In fact, it often does nothing, trading sideways, or even drifting lower. That’s the trap. Most investors lose interest and move on. But when the moment hits, and that could be a 13D filing, a spinoff announcement, or a strategic review—the rerating is fast and unforgiving. This is where positioning early, before the headlines, delivers real alpha. By the time CNBC discusses it, the easy money has already vanished. Private equity and activist investors are not simply randomly investing in the market. These investors follow patterns that recur frequently, and you can do the same if you pay attention. If a stock meets three or more of these criteria, someone is already modeling it. The actions they have planned don’t come slowly; they happen quickly and reward those who saw the indicators early.

We monitor these situations daily at The Edge. In this game, alpha is not mere chance; it is a deliberate process.

On the date of publication, Jim Osman did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com