ASEAN (Indo) & China-focused. Ex-Deputy HoR UBS.

Johannes Salim, CFA

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/18840" target="_blank" data-smartkarma-citation="entities:18840:1">CBS Corporation (CBS US)</a> has made an opening bid to acquire <a href="https://www.smartkarma.com/entities/7472" target="_blank" data-smartkarma-citation="entities:7472:1">Viacom Inc Class A (VIA US)</a> while VIA counters the offer immediately.</li>
<li>Even at share swap ratio of 0.65 CBS shares for every VIA share, the deal (without taking into account cost synergy) would be EPS accretive for CBS.</li>
<li>The sector's M&amp;A deal flows and attractive valuation could put enough pressure for CBS's CEO to pull the trigger.</li>
<li>The play is through <a href="https://www.smartkarma.com/entities/11654" target="_blank" data-smartkarma-citation="entities:11654:1">Viacom Inc Class B (VIAB US)</a> as its share price is 14% lower than VIA's.</li>
</ul><p><a href="https://www.smartkarma.com/entities/18840" target="_blank" data-smartkarma-citation="entities:18840:1">CBS Corporation</a>…</p>



CBS Corporation (CBS US) has made an opening bid to acquire Viacom Inc Class A (VIA US) while VIA counters the offer immediately.
Even at share swap ratio of 0.65 CBS shares for every VIA share, the deal (without taking into account cost synergy) would be EPS accretive for CBS.
The sector's M&amp;A deal flows and attractive valuation could put enough pressure for CBS's CEO to pull the trigger.
The play is through Viacom Inc Class B (VIAB US) as its share price is 14% lower than VIA's.
CBS Corporation…

Viacom Inc Class B

CBS-Viacom M&A: The Second Time a Charm?