CVC Offers ¥1150 for Macromill (3978) - Wrong Price, Wrong Register - Expect Activism or An Overbid

Travis has highlighted this Insight as a Top Pick

1.4k Views14 Nov 2024 12:28

PE Firm CVC is launching a Tender Offer to buy out digital marketing agency and market research provider Macromill. Horrible transparency, low price, and a very interesting register. Expect activism.

What is covered in the Full Insight:

Introduction to the Deal
Shareholder Structure Analysis
Potential Activism and Overbidding
Financial Implications
Conclusion and Trade Recommendations

Boomeranged on Mon, 16 Dec 2024 05:13

The Macromill (3978) Tender Offer ends next week on the 26th. So far it has not traded below terms a single time, and hasn't traded within 1% of terms other than in the first hour. I think this gets a bump. I don't see people tendering in. What people may not get is that if they go to 1200, the bump might go to 1250. They won't bump a lot unless the competition looks more serious.

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