Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

<ul><li>On 6 Oct 2015, JSE-listed Sibanye Gold submitted an offer for&nbsp;Aquarius.</li><li>The Offer is at USD 0.195 per share of AQP for ASX, JSE or&nbsp;LSE listed counters.</li><li>Shareholders will receive their cash payment in AUD, ZAR or GBP according to the prevailing exchange rates at 5pm (Sydney Time) on the Record Date (fifth business day after the last trade date).</li></ul>The Amalgamation&nbsp;Booklet has just been released along with the IFA&nbsp;Report. The IFA has concluded that the deal is fair and reasonable and the directors have unanimously recommendedSurprisingly , the spread for all three counters is wide, ranging from 17 to 19%!In this insight, we take an in-depth look through the Amalgamation&nbsp;Booklet and IFA report. We identify the key risks to the transaction and discuss&nbsp;if the spreads deserve to be this wide or if this is a great arbitrage opportunity.

On 6 Oct 2015, JSE-listed Sibanye Gold submitted an offer for&nbsp;Aquarius.The Offer is at USD 0.195 per share of AQP for ASX, JSE or&nbsp;LSE listed counters.Shareholders will receive their cash payment in AUD, ZAR or GBP according to the prevailing exchange rates at 5pm (Sydney Time) on the Record Date (fifth business day after the last trade date).The Amalgamation&nbsp;Booklet has just been released along with the IFA&nbsp;Report. The IFA has concluded that the deal is fair and reasonable and the directors have unanimously recommendedSurprisingly , the spread for all three counters is wide, ranging from 17 to 19%!In this insight, we take an in-depth look through the Amalgamation&nbsp;Booklet and IFA report. We identify the key risks to the transaction and discuss&nbsp;if the spreads deserve to be this wide or if this is a great arbitrage opportunity.

Aquarius Platinum

Aquarius - Platinum Rating?