IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Atlas Arteria (ALX AU): IFM Comes Out Swinging

Atlas Arteria (ALX AU): Patience Runs Out as IFM Launches a Takeover Offer

Atlas Arteria (ALX AU): Unsurprising Rejection but Surprising Potential Skyway Sale

Atlas Arteria in the Crosshairs of IFM Investors

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a> target’s statement recommends rejecting IFM’s takeover offer. The IE opines that the offer is neither fair nor reasonable.</li>
<li>The IE valuation range is A$5.39 to A$6.20 per share. IFM will have several reasons to take issue with the IE’s valuation, particularly relating to the Chicago Skyway.</li>
<li>Despite the Board’s assertions, it could be commercially prudent for OTPP to waive the put option. It is also possible that IFM waives the maximum offer acceptance threshold.</li>
</ul>


The Atlas Arteria (ALX AU) target’s statement recommends rejecting IFM’s takeover offer. The IE opines that the offer is neither fair nor reasonable.
The IE valuation range is A$5.39 to A$6.20 per share. IFM will have several reasons to take issue with the IE’s valuation, particularly relating to the Chicago Skyway.
Despite the Board’s assertions, it could be commercially prudent for OTPP to waive the put option. It is also possible that IFM waives the maximum offer acceptance threshold.


Atlas Arteria (ALX AU): Target’s Statement Makes Good and Bad Points