Daily BriefsTMT/Internet

TMT: Infomedia Ltd, Grab and more

In today’s briefing:

  • Merger Arb Mondays (20 Jun) – Link Admin, Infomedia, ResApp, Ramsay Health, Frasers Hospitality
  • Deep Dive: GRAB
  • Infomedia (IFM AU): Now A Three-Way Hunt

Deep Dive: GRAB

By Value Punks

  • Grab is Southeast Asia’s dominant on-demand platform for ride-hailing and deliveries. It is also one of the top mobile wallet/fintech player in the region.

  • Amidst the dramatic turn in macro and capital markets conditions, incentives spending in the industry seems to be coming down fast and across the board as management teams’ focus shifts to profitability.

  • While share prices of tech companies have been severely punished, the downturn may also be a positive turning point to catalyze more rational industry behavior moving forward.

Infomedia (IFM AU): Now A Three-Way Hunt

By David Blennerhassett

  • Online auto parts and service provider Infomedia Ltd (IFM AU) has received a third non-binding proposal; this time from U.S.-based software company Solera Holdings. 
  • The Offer price is A$1.70/share, in line with TA Associates-led consortium’s bid, but below Battery Ventures’ A$1.75/share offer.
  • As with TA and Battery, Solera has been granted limited due diligence. TA holds a 19.4% stake.

Before it’s here, it’s on Smartkarma