Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

It was reported by Bloomberg on Monday (11th November) that Walgreens Boots Alliance (WBA) was offered a buyout deal by private equity firm KKR. The Financial Times (FT) reported last week (06th November) that WBA has been exploring a USD70bn buy-out deal. WBA reportedly wants to go private and KKR is interested in buying the firm. If the deal goes through, it will mark the world’s largest private takeover in history.WBA’s pharmaceutical business has been struggling due to intense competition from online giants such as Amazon and Walmart, the negative impact from the proposed bill on lowering drug prices and the cut in prescription reimbursements by the UK’s National Health Service (NHS). The company has initiated a restructuring plan and aims to achieve annual cost savings in excess of USD1.8bn by 2022.The company’s financial performance has deteriorated over the last 2-3 years and it has been on the lookout for suitable partnerships or joint ventures to rescue its business. The terms of the deal or whether WBA has agreed to go private have not yet been announced. If we are to go by the FT, a deal of USD70bn implies a 32.4% premium on the company’s share price of USD59.24 per share (at the time of writing the note). It remains to be seen what plans KKR has in mind for the troubled drugstore company and how it will turn-around the business into an attractive company.

It was reported by Bloomberg on Monday (11th November) that Walgreens Boots Alliance (WBA) was offered a buyout deal by private equity firm KKR. The Financial Times (FT) reported last week (06th November) that WBA has been exploring a USD70bn buy-out deal. WBA reportedly wants to go private and KKR is interested in buying the firm. If the deal goes through, it will mark the world’s largest private takeover in history.WBA’s pharmaceutical business has been struggling due to intense competition from online giants such as Amazon and Walmart, the negative impact from the proposed bill on lowering drug prices and the cut in prescription reimbursements by the UK’s National Health Service (NHS). The company has initiated a restructuring plan and aims to achieve annual cost savings in excess of USD1.8bn by 2022.The company’s financial performance has deteriorated over the last 2-3 years and it has been on the lookout for suitable partnerships or joint ventures to rescue its business. The terms of the deal or whether WBA has agreed to go private have not yet been announced. If we are to go by the FT, a deal of USD70bn implies a 32.4% premium on the company’s share price of USD59.24 per share (at the time of writing the note). It remains to be seen what plans KKR has in mind for the troubled drugstore company and how it will turn-around the business into an attractive company.

Walgreens Boots Alliance: KKR Offers to Take the Drugstore Giant Private