Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Swedish outfit <a href="https://www.smartkarma.com/entities/essity-ab" target="_blank" data-smartkarma-citation="entities:28203:1" rel="noopener">Essity AB (ESSITYB SS)</a> has made a conditional, non-binding A$1.26/share offer for the remaining 63.8% of <a href="https://www.smartkarma.com/entities/asaleo-care-ltd" target="_blank" data-smartkarma-citation="entities:19923:1" rel="noopener">Asaleo Care Ltd (AHY AU)</a> it does not already own, either by way of a Scheme or an off-market takeover.
Hygiene, personal care, and consumer tissue products producer Asaleo <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02320914-3A557776?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">said</a> the Offer price, a 24.7% premium to last close, reflected a low takeover premium to recent market prices and was highly opportunistic in timing.
However, Asaleo added it was still in the early stages of assessing the proposal.
It is understood this is Essity's initial Offer, suggesting there is scope for a bump.
More below the fold.

Swedish outfit Essity AB (ESSITYB SS) has made a conditional, non-binding A$1.26/share offer for the remaining 63.8% of Asaleo Care Ltd (AHY AU) it does not already own, either by way of a Scheme or an off-market takeover.
Hygiene, personal care, and consumer tissue products producer Asaleo said the Offer price, a 24.7% premium to last close, reflected a low takeover premium to recent market prices and was highly opportunistic in timing.
However, Asaleo added it was still in the early stages of assessing the proposal.
It is understood this is Essity's initial Offer, suggesting there is scope for a bump.
More below the fold.

Sweden

Essity Aktiebolag develops, produces, and sells personal care products. The Company offers products such as toilet papers, household towels, handkerchiefs, facial tissues, hand sanitizers, dispensers, wet wipes, and napkins. Essity markets its products globally.

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Essity (ESSITYB SS)

Asaleo (ASX: AHY)/Essity: Bottom Feeders

Essity can easily pony up another A$0.15-A$0.20/share, or ~10% upside from here. I would expect Essity to return with a higher Offer. However, this...

David Blennerhassett

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