IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Weekly Deals Digest (24 Jul): Thai Life, Bharat FIH, Link, DTAC/True, Pendal, Tassal, Ramsay, AOF

Merger Arb Mondays (25 Jul) - DTAC/True, Ramsay Health, Link Admin, VNET, Alliance Aviation

Link’s New Scheme Meeting on 22 August but Deal Break Risks Remain

Link Narrows the Price Gap as DND Bumps Its Lowered Offer

Link’s Statement Hints at a Willingness to Meet in the Middle

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> has entered a revised scheme implementation deed with Dye&amp;Durham/DND at A$4.81 per share. The scheme meeting will be held in mid-August.</li>
<li>Shareholders will be supportive due to deal fatigue, and the offer price is 11% above the undisturbed price and at the low end of the original IE valuation range.</li>
<li>Regulatory approvals are a key risk. DND is presumably confident in its undertakings to gain ACCC approval. At last close, the gross spread is 7.8%.</li>
</ul>



Link Administration (LNK AU) has entered a revised scheme implementation deed with Dye&amp;Durham/DND at A$4.81 per share. The scheme meeting will be held in mid-August.
Shareholders will be supportive due to deal fatigue, and the offer price is 11% above the undisturbed price and at the low end of the original IE valuation range.
Regulatory approvals are a key risk. DND is presumably confident in its undertakings to gain ACCC approval. At last close, the gross spread is 7.8%.


Link Administration

Link and DND Shake Hands at A$4.81