IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Hollysys Automation Technologies / Event-Driven

<ul>
<li>Ascendent Capital has made a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&amp;ref=317844343&amp;type=PDF&amp;symbol=HOLI&amp;cdn=eb09d796c5e38b2cb3fcc4b11a699c1a&amp;companyName=Hollysys+Automation+Technologies+Ltd.&amp;formType=SC+13D&amp;dateFiled=2023-11-06" target="_blank" rel="noopener">non-binding proposal</a> for <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a> at US$26.00 per share, a 4.0% premium to the MBO and Recco proposal of US$25.00 per share. </li>
<li>Ascendent has also become the largest shareholder by securing 13.69% of outstanding shares at an average price of A$20.84 per share. Ascendant is supportive of the special meeting request.</li>
<li>The Board has tried several delaying tactics, but the emergence of Ascendant ramps up the pressure on the Board to conduct a transparent sale process and address shareholder concerns. </li>
</ul>


Ascendent Capital has made a non-binding proposal for Hollysys Automation Technologies (HOLI US) at US$26.00 per share, a 4.0% premium to the MBO and Recco proposal of US$25.00 per share. 
Ascendent has also become the largest shareholder by securing 13.69% of outstanding shares at an average price of A$20.84 per share. Ascendant is supportive of the special meeting request.
The Board has tried several delaying tactics, but the emergence of Ascendant ramps up the pressure on the Board to conduct a transparent sale process and address shareholder concerns. 


Hollysys (HOLI US): Ascendent Capital Joins the Fray

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a> update notes a new MBO proposal at US$25 per share, a bidders shortlist in several weeks and an update on the special meeting. </li>
<li>The update suggests several potential bidders and enough shareholders with the required record date to convene the special meeting to appoint independent directors. </li>
<li>The MBO proposal, while potentially a delaying tactic, suggests that the Board are under pressure for a solution and is aiming for a friendly takeover. </li>
</ul>



Hollysys Automation Technologies (HOLI US) update notes a new MBO proposal at US$25 per share, a bidders shortlist in several weeks and an update on the special meeting. 
The update suggests several potential bidders and enough shareholders with the required record date to convene the special meeting to appoint independent directors. 
The MBO proposal, while potentially a delaying tactic, suggests that the Board are under pressure for a solution and is aiming for a friendly takeover. 


Hollysys (HOLI US): MBO Proposal and Updates

<ul>
<li>The <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a> Board succumbs to shareholder pressure by announcing the formation of a special committee to conduct a formal sale process.</li>
<li>Hollysys has received non-binding proposals from six parties since December 2020. The most recent is a non-binding proposal from the Recco consortium at US$25.00 per share.</li>
<li>The Board’s change of heart should encourage previous bidders to re-engage. Recco’s offer, while attractive, is not a knockout bid, suggesting a possible bidding war. </li>
</ul>


The Hollysys Automation Technologies (HOLI US) Board succumbs to shareholder pressure by announcing the formation of a special committee to conduct a formal sale process.
Hollysys has received non-binding proposals from six parties since December 2020. The most recent is a non-binding proposal from the Recco consortium at US$25.00 per share.
The Board’s change of heart should encourage previous bidders to re-engage. Recco’s offer, while attractive, is not a knockout bid, suggesting a possible bidding war. 


Hollysys (HOLI US): Board Starts a Formal Sale Process

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>With its results around the corner, let us take a closer look at Emersion Electric’s last quarter performance.</li><li>The company’s last result had been a major disappointment as it failed to meet the revenue expectations as well as the earnings expectations of Wall Street.</li><li>The sales performance was driven by growth in software, control, and in Intelligent Devices.</li></ul>

With its results around the corner, let us take a closer look at Emersion Electric’s last quarter performance.The company’s last result had been a major disappointment as it failed to meet the revenue expectations as well as the earnings expectations of Wall Street.The sales performance was driven by growth in software, control, and in Intelligent Devices.

Emerson Electric Co.: Collaboration with ZAETHER & Other Drivers

Credit

<ul><li>Emerson Electric is a well-known engineering company catering to clients in the industrial, commercial, and consumer markets.</li><li>It continues to see growth potential in the life sciences sector thanks to continued investment in creating new drugs, vaccines, and medications.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Emerson Electric is a well-known engineering company catering to clients in the industrial, commercial, and consumer markets.It continues to see growth potential in the life sciences sector thanks to continued investment in creating new drugs, vaccines, and medications.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Emerson Electric Co.: Detailed Credit Analysis & Financial Strength Evaluation Report

United States

Emerson Electric Co. designs and manufactures electronic and electrical equipment, software, systems and services for industrial, commercial and consumer markets worldwide through its network power, process management, industrial automation, climate technologies and commercial & residential solutions divisions.

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Emerson Electric Co (EMR US)

Hollysys (HOLI US): Ascendent Capital Joins the Fray

The Recco consortium has bumped its non-binding offer to US$26.50 per share, 1.9% higher than Ascendent’s offer. Recco notes that “shareholders...

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Hollysys (HOLI US): MBO Proposal and Updates

The MBO proposal, while potentially a delaying tactic, suggests that the Board are under pressure for a solution and is aiming for a friendly...

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Hollysys (HOLI US): Board Starts a Formal Sale Process

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With its results around the corner, let us take a closer look at Emersion Electric’s last quarter performance. The company’s last result had been...

Baptista Research

Emerson Electric Co.: Detailed Credit Analysis & Financial Strength Evaluation Report

Emerson Electric is a well-known engineering company catering to clients in the industrial, commercial, and consumer markets. It continues to see...

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