Merger Arb Mondays (14 Sep) - Public Financial, Skyworth, Changhong Jiahua, Z Fin, OFX, Cleanaway
I summarise the latest spreads and newsflow for the merger arb situations covered across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...
165 Views
Public Financial (626 HK): HK$2.50/Share Will Get This Offer Over The Line
This is done, and will trade tighter than other Schemes. I'd buy up to ~HK$2.40/share, for a 4.2%/13% gross/annualised return, assuming a four...
128 Views
Public Financial Holdings (626 HK): Public Bankās Scheme Offer at HK$2.50
The vote is low-risk, as the high takeover premium will appeal to minorities given the near-term cash certainty compared to remaining a minority...
212 Views
Public Financial Holdings (626 HK): Privatisation Offer from Public Bank?
It is likely that Public Bank is seeking to launch a scheme offer. I estimate a potential offer range of HK$2.20-2.80 (41.9%-80.6% premium to last...
662 Views
Public Financial (626 HK) Halted: Public Bank (PBK MK) Takeover Expected
Public Bank could offer, say $2.50/share, a 60% premium, which still backs out a trailing P/B of 0.35x. They may well go higher to factor in the...
363 Views