Takeover Failed: High-Quality Regulated Assets Ensure Sustainable Earnings
We revert our fair value estimate for PAH, to its intrinsic value of HKD 68, after shareholders voted down the merger deal with CKI. We think the...
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Cheung Kong & Power Assets: Scheme Dies, There Will Be (Some) Blood
The NewsAs somewhat expected on the ground here in Hong Kong, Power Assets Holdings (6 HK) shareholders have voted against the deal to combine with...
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Heads I Win; Tails You Lose
"The all-stock offer from Li’s Cheung Kong Infrastructure for affiliate Power Assets Holdings should be as much as 13 percent higher" Institutional...
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A Somewhat Curious and Smallish Revision to Merger Terms
Li Ka-shing's CKI has sweetened the offer for Power Assets, in a rare and we must admit an unexpected concession by the Asian tycoon to independent...
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Cheung Kong Infrastructure Sweetens Power Assets Holdings Takeover Proposal
We raise our fair value for Power Assets Holdings to HKD 75 from HKD 73 following a sweetened takeover offer from Cheung Kong Infrastructure...
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