EQT/Solarpack: Friendly Take-Private Deal
With 51% irrevocable undertakings, the market is discounting the success of the offer. Fross spread is 1.3%, c. 4% annualised assuming the deal...
339 Views
K P N - E Q T Consortium: Prospective Bid (II)
KPN is back to growth and well-run. On a 7.6x EV/EBITDA exit, 10% acquisition premium of 10%, 25% equity and spread of 250bps to 10-y € swap, an...
404 Views
Recipharm-EQT Takeout
Recipharm closed at a 0.8% gross spread to the offer price, not massive, which reflects that the deal is highly likely to complete. Wait for any...
364 Views
Bilfinger SE: Private Equity Interest
Using multiples plus the BV of Apleona gives a valuation of €26.57 per share. Either the market is very pessimistic about growth and margins...
290 Views
Investor AB (INVEB SS): Blue Chip Portfolio at a Discount
Investor AB (INVEB SS) is a Swedish industrial holding company, and the holding vehicle for the Wallenberg family shareholdings. I believe that...
510 Views