European Event-driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Deal remains subject to approvals from FCA, PRA, SRA and clearance by CMA. Curtis said the <strong>scheme will likely be delayed until Q3 2023</strong>. There're potential antitrust and tech integration issues.</li>
<li>Curtis trades at 15x Fwd P/E and the spread has widened to 7.7%. Some event-driven funds are cashing in partially while others are taking advantage of the blip.</li>
<li>I think there's still a reasonably good chance of a deal happening (implied c.68%), but considering issues in recent situations (Wood, EMIS, THG, even Caverion), investors' concerns can be understood.</li>
</ul>


Deal remains subject to approvals from FCA, PRA, SRA and clearance by CMA. Curtis said the scheme will likely be delayed until Q3 2023. There're potential antitrust and tech integration issues.
Curtis trades at 15x Fwd P/E and the spread has widened to 7.7%. Some event-driven funds are cashing in partially while others are taking advantage of the blip.
I think there's still a reasonably good chance of a deal happening (implied c.68%), but considering issues in recent situations (Wood, EMIS, THG, even Caverion), investors' concerns can be understood.


Curtis Banks

Nucleus Clyde/Curtis Banks: Update

Curtis Banks

Nucleus Clyde/​Curtis Banks: Update

Nucleus Clyde/Curtis Banks: Update