European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>According to Expansion, Amber Equity (I Squared/TDR consortium vehicle), has signal its readiness to counteroffer between €10.65-€11 per <a href="https://www.smartkarma.com/entities/applus-services-sa" target="_blank" data-smartkarma-citation="entities:21249:1" rel="noopener">Applus Services SA (APPS SM)</a> share and drop minimum acceptance condition to 50.01%.</li>
<li>There are three scenarios now: Amber withdraws (unlikely), final sealed envelope auction or splitting the bounty at the highest offer price, the latter seems increasingly likely considering similar past situations.</li>
<li>At current market prices, IRR by year 8 would be 13.3%. The bidders must indeed be contemplating M&amp;A and economies of scale to boost returns.</li>
</ul>


According to Expansion, Amber Equity (I Squared/TDR consortium vehicle), has signal its readiness to counteroffer between €10.65-€11 per Applus Services SA (APPS SM) share and drop minimum acceptance condition to 50.01%.
There are three scenarios now: Amber withdraws (unlikely), final sealed envelope auction or splitting the bounty at the highest offer price, the latter seems increasingly likely considering similar past situations.
At current market prices, IRR by year 8 would be 13.3%. The bidders must indeed be contemplating M&amp;A and economies of scale to boost returns.


Germany

E.ON is one of Europe's largest operators of energy networks and energy infrastructure and a provider of innovative customer solutions for some 51 million customers. The company's operations are energy networks and customer solutions.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

E.ON (EONGY US)

Three Scenarios in a Bidding Battle

Amber Equity is ready to counteroffer for Applus Services shares. It is increasingly likely a sealed envelope auction or splitting the bounty at...

Jesus Rodriguez Aguilar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Three Scenarios in a Bidding Battle

​Amber Equity is ready to counteroffer for Applus Services shares. It is increasingly likely a sealed envelope auction or splitting the bounty at...

Jesus Rodriguez Aguilar

Amber Equity is ready to counteroffer for Applus Services shares. It is increasingly likely a sealed envelope auction or splitting the bounty at...