Star Wars: Episode 2026 – Return of the Space Race

Apr 17, 2026

It is time to “take a clearly leading role in space achievement, which in many ways may hold the key to our future on Earth.”

Not since the above was said during President John F. Kennedy’s “Man on the Moon” speech to Congress in 1961 has the space race been so front and center, culminated by the recent Artemis II lunar flyby and successfully safe splash down.

This week, our eyes continue to look skyward with Amazon ramping up the space saga by acquiring satellite operator Globalstar for $11.6 billion. This marks the company’s second-largest acquisition and secures Amazon with the rights to radiowave spectrum, which would open the door for them to provide direct-to-device (D2D) mobile communications.

Two major stakeholders who could have made noise both came out in favor of the deal. Anson Funds, who pushed for a sale in 2023, publicly praised the deal and said that it was “value maximizing,” reflecting the company’s “unique position.” Meanwhile, Apple, which owns 20% of Globalstar, implicitly supported the deal as Amazon entered a separate agreement for its Leo unit to support satellite service for Apple’s iPhone and Watch products.

The move is the latest in Jeff Bezos’s galactic focus as his companies expand ambitions for space and unlike the Space Race of the 1960s, our current race sees Jeff Bezos’s companies face off against Elon Musk’s SpaceX and Starlink program. Amazon’s deal this week announces the company’s Leo division as a major competitor to Starlink, which has dominated this industry for years.

All of this comes as SpaceX is set to be the largest IPO in history with Nasdaq getting ready to roll out the red carpet should SpaceX choose to list there. The exchange announced that it will enact a rule change to accelerate entry into the index from three months to 15 days, which would likely allow the juggernaut to hit the main index almost immediately after listing.

Have a great weekend,

GPP team

ACTIVISM

Financial Times: BP’s Proxy Fight Exposes Bugs in Shareholder Voting Machine
Using the recent tumult at BP, in which Glass Lewis recommended against chair Albert Manifold after the company excluded a shareholder resolution, the FT dives into the challenges of following proxy advisors recommendations at face value with some active managers starting to give governance teams a larger seat at the table. Read More

CNBC: Daikin shares jump 14% after activist investor Elliott pushes for reforms
Daikin Industries has become the latest target in Elliott’s growing focus in Japan, with Paul Singer’s fund building a 3% stake and demanding the company improve margins while evaluating the sale of non-core assets. Read More

M&A

Bloomberg: JPMorgan M&A Banker on Why Cross-Border Deals Will Keep Churning
JPM’s head of North American M&A Jay Hofmann sat down with Bloomberg’s Ryan Gould to discuss recent trends in M&A, including the rise in cross-border deals despite being in a time of political and market uncertainty. Read More

Another Busy Week in the Paramount-Warner Bros. Merger Movie
The Deal writes that ISS and Glass Lewis have backed the $110 billion deal while opposing golden parachute provisions. The New York Times noted that more than 1,000 Hollywood stars signed an open letter opposing the merger and Reuters reported that the UK’s Competition and Markets Authority is launching an investigation into the deal’s competitive compliance.

CORPORATE GOVERNANCE

Semafor: Arvind Krishna, IBM CEO, on Big Bets, AI, and Quantum
Arvind Krishna joins Semafor’s The CEO Signal and shares his approach to making critical decisions during rapid technological advancements. Krishna also discussesIBM’s focus on AI and quantum computing, including looking back at the company’s Red Hat acquisition. Listen here

The Economist: America’s corporate boards are under siege
Corporate boards are facing their most unpredictable proxy season yet as record activist campaigns, new director-selection rules, and the weakening of proxy advisers strip away the backroom tools boards once relied on to keep shareholders in line. Read More

Financial Times: US shareholder reform proposals hit five-year low as support wanes
Due to fewer environmental and social campaigns, along with changes at the SEC, shareholder proxy proposals hit a five-year low as more activists opt to engage directly with companies rather than wait for proposals at Annual Meetings. Read More

IPO

Semafor: One hedge fund is pitching a fix to SpaceX’s IPO deluge: Shorten employee lockup periods
A Lykos Global Management document proposed a “TIDE” (Threshold-Indexed Dynamic Exit) IPO structure for SpaceX that shortens and staggers insider lockups with price-triggered share releases to prevent a post-IPO selloff. Read More

Bloomberg: Ackman Starts Marketing Pershing IPO to Raise up to $10 Billion
Pricing is expected on April 28^th, despite a volatile geopolitical backdrop that has delayed other IPO plans. Ackman looks to raise between $5-$10 billion for the closed end fund, which would also give investors stakes in the hedge fund. Read More

FROM OUR DESK TO YOURS

This week, GPPers ventured downtown for dinner at Dean’s, a charming new restaurant serving elevated British pub-fare. The 1960s theme continues with this modern British Invasion coming to us from co-owners Jess Shadbolt and Annie Shi, the duo behind King who expanded right next door as chef Jess Shadbolt shares the foods that she grew up with in Suffolk, on England’s southeast coast.

We began with some bar nibbles including Guinness bread with marmite butter and pork scratchings served with homemade orchard sauce. We then moved to some refreshing East Coast oysters, quail scotch eggs, and cold roast beef. Each bite was better than the last.

Most of us opted for fish & chips as an entrée, doused in a healthy serving of squeezed lemon juice and malt vinegar. We also couldn’t help but sample the delicious crab and crumpet, and the Barnsley chop with the side of mashed peas was a major hit as well.

Of course, our readers know that no meal would be complete without a drink, and Dean’s stellar cocktail and wine offerings delivered. To begin, the table started out with a few cocktails, including the Wimbledon-inspired lemon drop with Titos, strawberries, and ricotta foam and the gimlet with Ford’s gin and cucumber.

We then moved to wine, starting with the Pierre Weber “Le Orange,” a delicious, skin-contact wine from Alsace, France that set the tone for the meal. We followedthe Alsatian wine with António Madeira “Vinhas Velhas Branco Dão,” a stunning Portuguese white wine that came to us at the suggestion of Dean’s amazing sommelier, whose passion for wine and suggestions alone would make the trip worthwhile.

Dean’s teleports anyone who walks through the doors to coastal Britain with a hearty meal that will have you wanting to come back as soon as possible.

Finally, while you are waiting for the next opening at Dean’s, make sure to check out Caviar Day at Smorgasburg this weekend in Williamsburg. From Astrea Caviar, these special dishes won’t last long, so we recommend getting there early!