IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>Dye &amp; Durham/DND’s proposed acquisition of <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> at A$4.81 per share has received approvals from the ACCC and the Central Bank of Ireland.</li>
<li>Key conditions precedent remaining are FIRB, UK FCA and Luxembourg approvals. The second court hearing date has been adjourned to 15 September.</li>
<li>The transaction is in the home stretch and will likely complete. At the last close, the gross and annualised spread for a 27 September payment is 4.8% and 151%, respectively.</li>
</ul>


Dye &amp; Durham/DND’s proposed acquisition of Link Administration (LNK AU) at A$4.81 per share has received approvals from the ACCC and the Central Bank of Ireland.
Key conditions precedent remaining are FIRB, UK FCA and Luxembourg approvals. The second court hearing date has been adjourned to 15 September.
The transaction is in the home stretch and will likely complete. At the last close, the gross and annualised spread for a 27 September payment is 4.8% and 151%, respectively.


Link’s Scheme in the Home Stretch by Securing ACCC and CBI Approval

<ul>
<li>The <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration Holdings (LNK AU)</a> scheme meeting is scheduled for 13 July. The independent expert has concluded that the Dye &amp; Durham (DND) offer is fair and reasonable.</li>
<li>The offer faces significant risks which are ACCC review (<a href="https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/dye-durham-corporation-link-administration-holdings" target="_blank" rel="noopener">findings delayed</a> from the 26 May release date), a contract renewal potentially triggering the MAC clause and an ongoing <a href="https://www.fca.org.uk/news/news-stories/lf-woodford-equity-income-fund-investigation" target="_blank" rel="noopener">FCA investigation</a>.</li>
<li>At the last close, the gross spread to the base offer is 10.7%. We would be buyers up to A$5.20 per share (implies 75% deal probability).</li>
</ul>


The Link Administration Holdings (LNK AU) scheme meeting is scheduled for 13 July. The independent expert has concluded that the Dye &amp; Durham (DND) offer is fair and reasonable.
The offer faces significant risks which are ACCC review (findings delayed from the 26 May release date), a contract renewal potentially triggering the MAC clause and an ongoing FCA investigation.
At the last close, the gross spread to the base offer is 10.7%. We would be buyers up to A$5.20 per share (implies 75% deal probability).


Link’s Scheme Meeting on 13 July, High Spread Reflects Deal Risk

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

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Technical Analysis

<p><strong>Chartonics webcast </strong>Tuesday 8 March 2016</p><div><strong>Cycle inflection points</strong></div><p>To view click on this link: </p><p><strong><a href="http://www.screencast.com/t/2hBvPl15" target="_blank">http://www.screencast.com/t/2hBvPl15</a> </strong>4:14 min.</p><div>Our focus is on inflection turn signals across classes given we are entering a cycle turn date today that may stretch a few days but this week ST tops are due.</div><p>WTI close to 38 resistance after a big run is due for a at least a pullback within our more bullish March cycle.</p><div>CAD at even more interesting chart support for a short CAD/long USD. March is expected to…</div>

Chartonics webcast Tuesday 8 March 2016Cycle inflection pointsTo view click on this link: http://www.screencast.com/t/2hBvPl15 4:14 min.Our focus is on inflection turn signals across classes given we are entering a cycle turn date today that may stretch a few days but this week ST tops are due.WTI close to 38 resistance after a big run is due for a at least a pullback within our more bullish March cycle.CAD at even more interesting chart support for a short CAD/long USD. March is expected to…

United States

Northern Trust Corporation is a financial holding company that provides investment management, asset and fund administration, fiduciary, and banking solutions for corporations, institutions, and affluent individuals. Northern Trust's banking operations are its primary operations.

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Northern Trust (NTRS US)

Link’s Scheme in the Home Stretch by Securing ACCC and CBI Approval

The transaction is in the home stretch and will likely be completed. At the last close, the gross and annualised spread for a 27 September payment...

Arun George

Link’s Scheme Meeting on 13 July, High Spread Reflects Deal Risk

The high gross spread of 10.7% reflects significant risks which are ACCC review, a contract renewal potentially leading to MAC and an FCA...

Arun George

Cycle Inflection Turns

Chartonics webcast Tuesday 8 March 2016Cycle inflection pointsTo view click on this link: http://www.screencast.com/t/2hBvPl15 4:14 min.Our focus...

Thomas Schroeder

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