European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Event-Driven

<ul>
<li>The offer provides a 2.7% gross spread with a 7.7% annualized return, supported by board approval, firm structure, and high market-implied probability of success near 92%.</li>
<li>Downside risk is significant if the deal breaks, but the structured offer, regulatory clarity, and low interloper risk support a small-to-moderate position in diversified event-driven portfolios.</li>
<li>Further upside depends on unexpected bid competition, ticking fees, or faster-than-expected settlement; otherwise, the return is modest but acceptable in stable arbitrage environments.</li>
</ul>


The offer provides a 2.7% gross spread with a 7.7% annualized return, supported by board approval, firm structure, and high market-implied probability of success near 92%.
Downside risk is significant if the deal breaks, but the structured offer, regulatory clarity, and low interloper risk support a small-to-moderate position in diversified event-driven portfolios.
Further upside depends on unexpected bid competition, ticking fees, or faster-than-expected settlement; otherwise, the return is modest but acceptable in stable arbitrage environments.


Qualcomm's Offer for Alphawave IP Group Plc