In today’s briefing:
- RPMGlobal (RUL AU): Caterpillar Firms A$5/Share Offer
- Sterlite Electric Ltd Pre-IPO Tearsheet
RPMGlobal (RUL AU): Caterpillar Firms A$5/Share Offer
- RPMGlobal Holdings Limited (RUL AU), a mining software technology provider, has entered into a Scheme with Caterpillar Inc (CAT US).
- Caterpillar, which currently holds no shares in RPMGlobal, is offering A$5/share (the same as in the NBIO), a 32.8% premium to undisturbed. Terms have not been declared final.
- FIRB and ACCC approvals are conditions. FIRB won’t be an issue. The key ACCC question is whether the combo has significant direct market overlap that triggers substantial competition concerns.
Sterlite Electric Ltd Pre-IPO Tearsheet
- Sterlite Electric (1408581D IN) is looking to raise about US$169m in its upcoming India IPO. The deal will be run by Axis Capital, Motilal Oswal, Nuvama.
- Sterlite Electric Limited, formerly known as Sterlite Power Transmission Limited, is a manufacturer and provider of system integration solutions, primarily focused on the power transmission and distribution (T&D) industry.
- Its product portfolio spans high-performance conductors, composite core conductors, and extra high-voltage cables, catering to both domestic and global markets.
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