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.

Enhanced Regulatory Scrutiny of M&A in the EU

Event-Driven

<ul>
<li>Gross spread (as of 13 March closing) on an estimated 1 <a href="https://www.smartkarma.com/entities/mondi-plc" target="_blank" data-smartkarma-citation="entities:22048:1" rel="noopener">Mondi PLC (MNDI LN)</a> x 0.2701 <a href="https://www.smartkarma.com/entities/ds-smith-plc" target="_blank" data-smartkarma-citation="entities:22150:1" rel="noopener">DS Smith PLC (SMDS LN)</a> exchange equation is 5.6%. New PUSU is 4 April.</li>
<li>The merger would create a European board and packaging giant. Interloper risk seems low, as are the chances of the deal being contested by antitrust regulators. </li>
<li>Mondi and DS Smith are verifying the anticipated synergies resulting from their combination. Considering synergies of 3% of DS Smith revenues, the present value might not cover the premium offered.</li>
</ul>


Gross spread (as of 13 March closing) on an estimated 1 Mondi PLC (MNDI LN) x 0.2701 DS Smith PLC (SMDS LN) exchange equation is 5.6%. New PUSU is 4 April.
The merger would create a European board and packaging giant. Interloper risk seems low, as are the chances of the deal being contested by antitrust regulators. 
Mondi and DS Smith are verifying the anticipated synergies resulting from their combination. Considering synergies of 3% of DS Smith revenues, the present value might not cover the premium offered.


DS Smith PLC

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