European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Event-Driven

<ul>
<li>Shareholders of Cambridge (UK)-based  <a href="https://www.smartkarma.com/entities/abcam-plc-fdbd66c6-5b3f-46b0-9e33-c7c79214544f" target="_blank" data-smartkarma-citation="entities:38641:1" rel="noopener">Abcam (ABCM US)</a> followed Glass Lewis and ISS recommendations and approved (&gt;84%) the scheme resolutions at both the Court Meeting and the GM.</li>
<li>The $24/share cash offer represents 10x EV/Fwd Revenue, 25x EV/Fwd NTM EBITDA. <a href="https://www.smartkarma.com/entities/danaher-corp" target="_blank" data-smartkarma-citation="entities:8243:1" rel="noopener">Danaher Corp (DHR US)</a> and Abcam have guided that the transaction is expected to close by mid-2024.</li>
<li>Spread is 3.21%/6.21% (gross/annualised, assuming settlement by 30 May). From the current levels, I see a balanced risk/reward.</li>
</ul>


Shareholders of Cambridge (UK)-based  Abcam (ABCM US) followed Glass Lewis and ISS recommendations and approved (&gt;84%) the scheme resolutions at both the Court Meeting and the GM.
The $24/share cash offer represents 10x EV/Fwd Revenue, 25x EV/Fwd NTM EBITDA. Danaher Corp (DHR US) and Abcam have guided that the transaction is expected to close by mid-2024.
Spread is 3.21%/6.21% (gross/annualised, assuming settlement by 30 May). From the current levels, I see a balanced risk/reward.


Abcam

Danaher/Abcam: Balanced Risk/Return