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.

Novartis Strikes for Possible Myelofibrosis Blockbuster

Event-Driven

<ul>
<li>Novartis published its offer document for <a href="https://www.smartkarma.com/entities/morphosys-ag" target="_blank" data-smartkarma-citation="entities:21675:1" rel="noopener">MorphoSys AG (MOR GR)</a> (US: <a href="https://www.smartkarma.com/entities/morphosys-ag-91f7c8f8-f418-4db5-953e-ec2206d64e67" target="_blank" data-smartkarma-citation="entities:27120:1" rel="noopener">MorphoSys AG (MOR US)</a>) following approval by BaFin. The acceptance period has commenced on 11 April, and will expire on 13 May.</li>
<li>I remain confident NVS' acquisition of MOR closes on track. I maintain my TP at €68/share, $18.25/ADR offer price, as deal will highly likely close in H1, in my view.</li>
<li>As of 11 April, gross spread is 0.82% and the estimated annual return is 7.78%. <strong>Long and tender.</strong>
</li>
</ul>


Novartis published its offer document for MorphoSys AG (MOR GR) (US: MorphoSys AG (MOR US)) following approval by BaFin. The acceptance period has commenced on 11 April, and will expire on 13 May.
I remain confident NVS' acquisition of MOR closes on track. I maintain my TP at €68/share, $18.25/ADR offer price, as deal will highly likely close in H1, in my view.
As of 11 April, gross spread is 0.82% and the estimated annual return is 7.78%. Long and tender.



Novartis/Morphosys: Start of Offer Period