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.

Ridgeview/Pinewood Technologies: Back in the Driver's Seat

Pinewood Technologies: Apax Takes the Wheel

Pinewood: Bid Break, Premium Reset – Where Does It Clear Now?

Event-Driven

<ul>
<li>Ridgeview has converted its 448p proposal into a recommended Rule 2.7 offer, with committed financing and irrevocable undertakings covering 45.2% of Pinewood’s share capital.</li>
<li>At 445p, Pinewood offers a 0.67% gross spread, implying approximately 97.5% completion probability and a 4.1% annualised return assuming completion on 19 October.</li>
<li>Our 443p expected value has been exceeded; the cash-arbitrage opportunity is largely played out, leaving existing holders with modest carry and potential upside from a competing bid above 484p.</li>
</ul>


Ridgeview has converted its 448p proposal into a recommended Rule 2.7 offer, with committed financing and irrevocable undertakings covering 45.2% of Pinewood’s share capital.
At 445p, Pinewood offers a 0.67% gross spread, implying approximately 97.5% completion probability and a 4.1% annualised return assuming completion on 19 October.
Our 443p expected value has been exceeded; the cash-arbitrage opportunity is largely played out, leaving existing holders with modest carry and potential upside from a competing bid above 484p.


Ridgeview/Pinewood Technologies: 3p to Go