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 (04 Feb) - Benefit One, Benesse, Outsourcing, Glosel, Hollysys, OreCorp, QVE

Merger Arb Mondays (05 Feb) - Hollysys, JSR, Benesse, Benefit One, Glosel, OreCorp, QV Equities

QV Equities (QVE AU): WAM Leaders (WLE AU)’s Binding Scheme Proposal

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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/wam-leaders-ltd" target="_blank" data-smartkarma-citation="entities:24274:1" rel="noopener">WAM Leaders Ltd (WLE AU)</a> has launched an all-scrip off-market takeover offer for <a href="https://www.smartkarma.com/entities/qv-equities-ltd" target="_blank" data-smartkarma-citation="entities:24284:1" rel="noopener">QV Equities Ltd (QVE AU)</a> at 1 WLE share per 1.4675 QVE shares.</li>
<li>The offer is subject to a 50.1% minimum acceptance condition and several onerous conditions, which disproportionately shift the risk to QVE shareholders. </li>
<li>The lack of meaningful premium (5.0% to undisturbed price) and unattractive deal metrics suggest a high probability of Board rejection. The Board has started a formal strategic review. </li>
</ul>



WAM Leaders Ltd (WLE AU) has launched an all-scrip off-market takeover offer for QV Equities Ltd (QVE AU) at 1 WLE share per 1.4675 QVE shares.
The offer is subject to a 50.1% minimum acceptance condition and several onerous conditions, which disproportionately shift the risk to QVE shareholders. 
The lack of meaningful premium (5.0% to undisturbed price) and unattractive deal metrics suggest a high probability of Board rejection. The Board has started a formal strategic review. 


QV Equities (QVE AU): WAM Leaders (WLE AU)’s Takeover Offer Needs a Rethink