In today’s briefing:
- Musgrave Minerals (MGV AU): Ramelius’ Offer Edges past Westgold’s Offer
- Siemens Energy: Profit Warning Offers Buying Opportunity
- Amman Mineral International IPO Trading – Looks Attractive with Ample Upside
Musgrave Minerals (MGV AU): Ramelius’ Offer Edges past Westgold’s Offer
- Musgrave Minerals (MGV AU) has recommended a cash and scrip off-market takeover offer from Ramelius Resources (RMS AU) at 1 RMS share for every 4.21 MGV shares + A$0.04 cash.
- RMS’ offer is attractive compared to adjusted exchange ratios and peer multiples. The offer, which has a 50.1% minimum acceptance condition, has secured commitments from shareholders representing 12.13% of shares.
- At the last close, RMS’ offer is 14.9% higher than Westgold Resources (WGX AU)’s rival scrip off-market takeover offer of 1 WGX share for every 5.37 MGV shares.
Siemens Energy: Profit Warning Offers Buying Opportunity
- Since its spin-off from Siemens Group’s former Gas and Power division three years ago, momentum for the new formed Company has been picking up
- Siemens Energy is experiencing a rise in demand for green transition technologies as governments worldwide move away from fossil fuels.
- Siemens Gamesa has recently announced a profit warning. We feel that the market over-reacted as the shares plunged over 37% on the day, erasing €7bn in Siemens Energy’s market value.
Amman Mineral International IPO Trading – Looks Attractive with Ample Upside
- Amman Mineral Internasional (1416286D IJ) raised around US$714m in its Indonesian IPO.
- Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
- In this note, we will talk about the trading dynamics and valuation.
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