AIO: The Second Arb Equivalency Grids - Updated

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

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Brookfield Infra ("BIP") announced a proposed AUD 9.05 per share offer for Asciano ("AIO") on the 1st of July. We initiated on the this deal with the "<a href="http://www.smartkarma.com/insights/brookfield-infra-asciano-this-train-is-starting-should-you-jump-on" target="_blank">This Train Is Starting, Should You Jump On</a>?" piece and followed up with "<a href="http://www.smartkarma.com/insights/brookfield-asciano-a-bit-more-about-the-ride-itself" target="_blank">A Bit More About The Ride Itself</a>". The announcement is out! It is pretty much what we had anticipated.Holders to receive AUD 6.94 cash in cash and 0.0387 BIP units (~ AUD $2.21)The offer is now revised to AUD 9.15 and scrip makes up 24.15% of the offer price with a choice to mix-and-match (subjected to a cap on both scrip and cash)More below the fold...

Brookfield Infra ("BIP") announced a proposed AUD 9.05 per share offer for Asciano ("AIO") on the 1st of July. We initiated on the this deal with the "This Train Is Starting, Should You Jump On?" piece and followed up with "A Bit More About The Ride Itself". The announcement is out! It is pretty much what we had anticipated.Holders to receive AUD 6.94 cash in cash and 0.0387 BIP units (~ AUD $2.21)The offer is now revised to AUD 9.15 and scrip makes up 24.15% of the offer price with a choice to mix-and-match (subjected to a cap on both scrip and cash)More below the fold...

Brookfield Infrastructure Partners L.P. (BIP US)

Pacific National

This Train has started!