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

Weekly Deals Digest (25 Sep) - CALB, Leapmotor, Onewo, OZ Minerals, Genex, Fengxiang, DTAC/True

OZ Minerals (OZL AU)’s A$28.25 Non-Binding Offer from BHP

Weekly Deals Digest (20 Nov) - OZ Minerals, Pendal, Nearmap, Halcyon, Yashili, I-Tail, Lygend

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Event-Driven

<ul>
<li>
<a href="https://www.bloomberg.com/news/articles/2022-09-17/oz-minerals-said-to-hold-out-for-a-10-billion-in-potential-sale?leadSource=uverify%20wall" target="_blank" rel="noopener">Bloomberg reported</a> that <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group Ltd (BHP AU)</a> has been considering raising its bid for <a href="https://www.smartkarma.com/entities/oz-minerals-ltd" target="_blank" data-smartkarma-citation="entities:1138:1" rel="noopener">OZ Minerals Ltd (OZL AU)</a>. OZ is pushing BHP to increase its offer to A$30. </li>
<li>The OZ Board has a strong justification for a higher offer as BHP’s acquisition of OZ would tick the boxes of future-facing commodities and potential operational synergies.</li>
<li>
<a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio Tinto Ltd (RIO AU)</a> recently increased its bid to minority shareholders of <a href="https://www.smartkarma.com/entities/turquoise-hill-resources-ltd" target="_blank" data-smartkarma-citation="entities:25405:1" rel="noopener">Turquoise Hill Resources (TRQ CN)</a>. This increases the probability that BHP will return with a sweetened offer.</li>
</ul>



Bloomberg reported that BHP Group Ltd (BHP AU) has been considering raising its bid for OZ Minerals Ltd (OZL AU). OZ is pushing BHP to increase its offer to A$30. 
The OZ Board has a strong justification for a higher offer as BHP’s acquisition of OZ would tick the boxes of future-facing commodities and potential operational synergies.

Rio Tinto Ltd (RIO AU) recently increased its bid to minority shareholders of Turquoise Hill Resources (TRQ CN). This increases the probability that BHP will return with a sweetened offer.


OZ Minerals Could Get an Improved Offer from BHP