Costa Group (CGC AU): Wide Spread Ahead of the 30 January Vote
While China SAMR approval is an overhang, the scheduling of the vote reflects PSP's confidence in securing the approval. The profit warning should...
328 Views
Costa Group (CGC AU): Binding Proposal Comes with Risks
The timing of China SAMR approval and the headcount test are risks. The risk/reward is unfavourable as the deal break downside (10%+) outweighs the...
586 Views
Costa Group (CGC AU): Paine Schwartz’s Final Proposal Poses a Dilemma
Shares closed down 3.4% as progress to a binding proposal remains uncertain. The Board faces a dilemma as the offer is light, but some shareholders...
392 Views
Costa Group (CGC AU): Paine Schwartz’s Indicative Proposal
The offer price is attractive compared to peer multiples and historical trading ranges. At the current price of A$3.35, the gross spread is 4.5%...
341 Views
Rural Funds (RFF AU): Milking Their Investors
Rural Fund Management (RFM) has recently filed its 2019 accounts with ASIC. They reveal the real quality of the Rural Funds Group (RFF) assets. RFM...
347 Views