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In today’s briefing:
- StubWorld: More Partial Offers In The Hanwha Group Complex
- Whitehaven Nail the Landing, Patriot look to the Future
- Packaging Corporation of America: These Are The 5 Most Pivotal Factors Driving Its Performance In 2024 & Beyond! – Financial Forecasts
- Schlumberger Limited: Shift Toward Natural Gas & Offshore Performance Driving Growth! – Major Drivers
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StubWorld: More Partial Offers In The Hanwha Group Complex
- After the Kim family-backed Hanwha Energy completed Hanwha Corporation‘s Partial Offer last month, Hanwha Galleria (452260 KS)‘s VP Kim Dong-seon has now launched a Partial Offer for 17.5% in Galleria.
- Preceding my comments on Hanwha are the current setup/unwind tables for Asia-Pacific Holdcos.
- These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.
Whitehaven Nail the Landing, Patriot look to the Future
- Blackwater sell down to Nippon and Jfezenhe Steel for US 1.08 billion upfront
- Deal includes selling 30% of Blackwater, reducing net debt by 150 million and potential future contingent payments
- Transaction costs and transition costs higher than expected, but deal significantly impacts balance sheet and future cash flow
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Packaging Corporation of America: These Are The 5 Most Pivotal Factors Driving Its Performance In 2024 & Beyond! – Financial Forecasts
- Packaging Corporation of America (PCA) reported second-quarter 2024 financial results with both strengths and challenges.
- The company announced a net income of $199 million, resulting in $2.21 earnings per share (EPS).
- Excluding special items, the EPS stood at $2.20, showing a slight decrease compared to the same quarter of the previous year at $2.31.
Schlumberger Limited: Shift Toward Natural Gas & Offshore Performance Driving Growth! – Major Drivers
- In the second quarter of 2024, Schlumberger showcased a strong ability to capitalize on the ongoing growth cycle while driving efficiency throughout its operations.
- The company reported a 5% increase in revenue compared to the first quarter.
- Schlumberger’s adjusted EBITDA grew 11%, and its adjusted EBITDA margin expanded 142 basis points.