CIMIC (CIM AU) Takeover Offer: Should Get Done; Index Implications
Hochtief has offered to buy the shares it does not own in CIMIC at A$22/share. At a one year high and in line with peer valuation, we think this...
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Atlantia - CDP - ACS: Moving Parts in the Acquisition of ASPI
From my SOTP valuation, on conservative assumptions, there is a 15% upside to ACS, with the optionality of a deal to acquire ASPI as part of a...
448 Views
ACS: Unlocking Value Via Disposals
I see solid upside in ACS (and higher dividends), thus I recommend LONG ACS. My valuation is €28.5 per share (by applying a conservative 15%...
496 Views
ACS: Analysis of a CIMIC Divestment
Daily El Confidencial published on 20 May that Acs Actividades De Construccio (ACS SM) (ACS) is exploring the sale of assets as a result of...
660 Views
Abertis / Atlantia: Strategies Behind the Hochtief & ACS Counterbid
ACS has been successful in structuring a deal that uses Hochtief as a vehicle to acquire Abertis. Hochtief proposed a competing offer for Abertis...
544 Views