ACS/Hochtief/CIMIC: Rationalization of Holding Structure
The offer is well timed, as CIMIC shares had been trading at seven-year lows prior to the offer. Gross spread is nearly inexistent, but worth...
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Hochtief's Unconditional Offer For CIMIC
Hochtief has announced its intention to make an unconditional and final offmarket Offer for CIMIC at $22.00/share. This looks done and will...
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Atlantia - CDP - ACS: Moving Parts in the Acquisition of ASPI
From my SOTP valuation, on conservative assumptions, there is a 15% upside to ACS, with the optionality of a deal to acquire ASPI as part of a...
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ACS: Unlocking Value Via Disposals
I see solid upside in ACS (and higher dividends), thus I recommend LONG ACS. My valuation is €28.5 per share (by applying a conservative 15%...
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ACS: Analysis of a CIMIC Divestment
Daily El Confidencial published on 20 May that Acs Actividades De Construccio (ACS SM) (ACS) is exploring the sale of assets as a result of...
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