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

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<li>
<a href="https://www.smartkarma.com/entities/sampo-oyj" target="_blank" data-smartkarma-citation="entities:21782:1" rel="noopener">Sampo Oyj (SAMPO FH)</a>, top shareholder (49.5%) of <a href="https://www.smartkarma.com/entities/topdanmark-a-s" target="_blank" data-smartkarma-citation="entities:22509:1" rel="noopener">Topdanmark A/S (TOP DC)</a>  is launching a recommended all-share public takeover offer to buyout the minorities (1 TOP = 1.25 SAMPO).</li>
<li>Despite being a cross-border merger, this deal, focused on scale and cost-cutting, is poised for success given rising costs in the insurance sector due to inflation. </li>
<li>My valuation as a takeover target is DKK 352/share, which indicates, in my view, that the offer is fair. Gross spread is 2.4%. I would be long the spread.</li>
</ul>



Sampo Oyj (SAMPO FH), top shareholder (49.5%) of Topdanmark A/S (TOP DC)  is launching a recommended all-share public takeover offer to buyout the minorities (1 TOP = 1.25 SAMPO).
Despite being a cross-border merger, this deal, focused on scale and cost-cutting, is poised for success given rising costs in the insurance sector due to inflation. 
My valuation as a takeover target is DKK 352/share, which indicates, in my view, that the offer is fair. Gross spread is 2.4%. I would be long the spread.


Topdanmark A/S

Sampo/Topdanmark: Fair Takeout Offer