Outsourcing (2427 JP): Bain-Backed Preconditional MBO Tender Offer at JPY1,755
Despite the 52% premium, the offer is light and opportunistically timed. Meeting the minimum acceptance condition could prove challenging.
718 Views
51job (JOB US): EGM On The 27 April
Trading at a gross/annualised spread of 3.4%/14.1%. That's still pretty attractive, and why this insight is bullish. Yet it has been a somewhat...
488 Views
Kanzhun IPO Valuation Analysis
Our valuation analysis of Kanzhun suggests an implied market cap of US$11.5 billion, representing implied price of $28.67 per share. We would take...
698 Views
Recruit Holdings: Likely to Reach Full-Year Guidance but Bad News Could Be on the Way
We believe it is likely for Recruit Holdings (6098 JP) to reach its full-year EBITDA guidance for FY03/20. However, we remain bearish, as we expect...
441 Views
Global Labour Markets Are Starting to Slow Down – Time To "Lay Off" Recruit
Recruit Holdings (6098 JP)’s revenue exposure to the Japanese and global labour markets is around 84% which makes it cyclical and susceptible to...
927 Views