European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

CompuGroup Medical SE & Co KgaA / Event-Driven

<ul>
<li>CVC announced a voluntary public tender offer for CompuGroup Medical at €22 per share, a 33.5% premium, valuing the company at €1.13 billion equity value and 7.8x EV/EBITDA.</li>
<li>The offer highlights CompuGroup’s strong position in healthcare IT, with 75% recurring revenues and growth potential in Ambulatory and Hospital Information Systems supported by digitization trends and AI innovations.</li>
<li>The Gotthardts retain their 50.1%. CompuGroup’s board welcomes the strategic partnership and intends to recommend the offer, with plans to delist after completion in H1 2025. Spread is 1.36%/4.60% (gross/annualised).</li>
</ul>


CVC announced a voluntary public tender offer for CompuGroup Medical at €22 per share, a 33.5% premium, valuing the company at €1.13 billion equity value and 7.8x EV/EBITDA.
The offer highlights CompuGroup’s strong position in healthcare IT, with 75% recurring revenues and growth potential in Ambulatory and Hospital Information Systems supported by digitization trends and AI innovations.
The Gotthardts retain their 50.1%. CompuGroup’s board welcomes the strategic partnership and intends to recommend the offer, with plans to delist after completion in H1 2025. Spread is 1.36%/4.60% (gross/annualised).


C V C/CompuGroup Medical: Takeover Decision

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Nec Networks & System Integr / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nec-networks-system-integr" target="_blank" data-smartkarma-citation="entities:16396:1" rel="noopener">Nec Networks (1973 JP)</a>'s own FA didn't include any measure of transaction synergies to be created about which NEC and NESIC were so sure. This is not being done right.</li>
<li>
<a href="https://www.smartkarma.com/entities/singapore-post-ltd" target="_blank" data-smartkarma-citation="entities:150:1" rel="noopener">Singapore Post (SPOST SP)</a>'s muted price action after announcing the ~S$900mn FMH sale is illustrative. But expect more value to be unlocked from divesting non-core ops going forward. </li>
<li>The FTC' blocking the giant grocery merger of <a href="https://www.smartkarma.com/entities/kroger-co" target="_blank" data-smartkarma-citation="entities:20824:1" rel="noopener">Kroger Co (KR US)</a> and <a href="https://www.smartkarma.com/entities/albertsons-cos-inc" target="_blank" data-smartkarma-citation="entities:33026:1" rel="noopener">Albertsons Cos (ACI US)</a> spells trouble for ACT and <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>.</li>
</ul>



Nec Networks (1973 JP)'s own FA didn't include any measure of transaction synergies to be created about which NEC and NESIC were so sure. This is not being done right.

Singapore Post (SPOST SP)'s muted price action after announcing the ~S$900mn FMH sale is illustrative. But expect more value to be unlocked from divesting non-core ops going forward. 
The FTC' blocking the giant grocery merger of Kroger Co (KR US) and Albertsons Cos (ACI US) spells trouble for ACT and Seven &amp; I Holdings (3382 JP).


Last Week in Event SPACE: NEC Network, SingPost, Seven & I, CPMC, Exedy

Germany

CompuGroup Medical SE & Co. KGaA develops software. The Company designs application for healthcare. CompuGroup Medical serves customers worldwide.

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CompuGroup Medical SE & Co KgaA (COP GR)

C V C/CompuGroup Medical: Takeover Decision

CVC offers €22 per share for CompuGroup Medical, valuing the company at €1.13 billion with growth potential in healthcare IT and plans to delist...

Jesus Rodriguez Aguilar

Last Week in Event SPACE: NEC Network, SingPost, Seven & I, CPMC, Exedy

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

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52-week Range

Market Cap (USDm)

P/E

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C V C/CompuGroup Medical: Takeover Decision

​CVC offers €22 per share for CompuGroup Medical, valuing the company at €1.13 billion with growth potential in healthcare IT and plans to delist...

Jesus Rodriguez Aguilar

Last Week in Event SPACE: NEC Network, SingPost, Seven & I, CPMC, Exedy

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

CVC offers €22 per share for CompuGroup Medical, valuing the company at €1.13 billion with growth potential in healthcare IT and plans to delist...