Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

<p>For our next Webinar, we are delighted to welcome back Analyst <a href="https://www.smartkarma.com/profiles/jesus-rodriguez-aguilar" target="_blank" data-smartkarma-citation="accounts:5842" rel="noopener">Jesus Rodriguez Aguilar</a> who will take us through his top ideas in Europe's M&amp;A landscape.</p>
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<h3>The webinar was hosted on Wednesday, 27 July 2022, 17:00 SGT/HKT.</h3>
<p>Subscribe to our podcast feed and listen on the go:</p>
<p><iframe src="https://open.spotify.com/embed/episode/1neyVsMriYyIfqPGV12AJ6?utm_source=generator" width="100%" height="352" style="border-radius: 12px;" frameborder="0" allowfullscreen="allowfullscreen" allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture"></iframe></p>
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<p>Jesus Rodriguez Aguilar is an Event-Driven Analyst looking across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations.</p>
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For our next Webinar, we are delighted to welcome back Analyst Jesus Rodriguez Aguilar who will take us through his top ideas in Europe's M&amp;A landscape.

The webinar was hosted on Wednesday, 27 July 2022, 17:00 SGT/HKT.
Subscribe to our podcast feed and listen on the go:



Jesus Rodriguez Aguilar is an Event-Driven Analyst looking across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations.


Smartkarma Webinar | European Event-Driven: Top Ideas

European Event-Driven Analyst

Jesus Rodriguez Aguilar

<ul>
<li>Giant UnitedHealth offers 1,925p, in cash (implied equity value of £1,243 million, implied EV of £1,185 million). This represents: 6.5x EV/Fwd Revenue, 20.4x EV/Fwd EBITDA and 31.7x Fwd PE (source: I/B/E/S).</li>
<li>The offer is pitched above peer's multiples, which coupled with a 49% premium, should be enough to convince any reluctant shareholder to tender.</li>
<li>Gross spread is 2.9%, quite good for a highly likely deal in the European space (c. 16% estimated annual return assuming settlement takes place on 8 September).</li>
</ul>


Giant UnitedHealth offers 1,925p, in cash (implied equity value of £1,243 million, implied EV of £1,185 million). This represents: 6.5x EV/Fwd Revenue, 20.4x EV/Fwd EBITDA and 31.7x Fwd PE (source: I/B/E/S).
The offer is pitched above peer's multiples, which coupled with a 49% premium, should be enough to convince any reluctant shareholder to tender.
Gross spread is 2.9%, quite good for a highly likely deal in the European space (c. 16% estimated annual return assuming settlement takes place on 8 September).


UnitedHealth/EMIS: Agreed Offer, Estimated Calendar, Spread

United Kingdom

EMIS Group Plc is a healthcare information technology company. The Company computerizes patients' medical records and allows primary, secondary and community healthcare practitioners to view and contribute to a patient's core medical record.

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EMIS Group PLC (EMIS LN)

Smartkarma Webinar | European Event-Driven: Top Ideas

On 27 July, 5 PM SGT, join our Webinar with Analyst Jesus Rodriguez Aguilar who will share his top ideas in Europe's M&A landscape.

Smartkarma Research

UnitedHealth/EMIS: Agreed Offer, Estimated Calendar, Spread

Giant UnitedHealth should comfortably be able to acquire EMIS out of cash holdings. The deal should happen quickly to avoid EMIS paying dividends....

Jesus Rodriguez Aguilar

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