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: 3p to Go

Pinewood Technologies: Apax Takes the Wheel

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

Event-Driven

<ul>
<li>Ridgeview's 448p proposal values Pinewood at £545m and appears materially more executable than Apax's withdrawn approach, supported by rollover financing and letters of intent covering 48.7% of the register.</li>
<li>The lower valuation, shareholder rollover and stronger upfront support help explain why a second financial sponsor has emerged only five months after Apax abandoned its proposal.</li>
<li>We assign a 90% probability to completion. Unless a competing bidder emerges, remaining upside is driven primarily by deal execution rather than expectations of a higher offer.</li>
</ul>


Ridgeview's 448p proposal values Pinewood at £545m and appears materially more executable than Apax's withdrawn approach, supported by rollover financing and letters of intent covering 48.7% of the register.
The lower valuation, shareholder rollover and stronger upfront support help explain why a second financial sponsor has emerged only five months after Apax abandoned its proposal.
We assign a 90% probability to completion. Unless a competing bidder emerges, remaining upside is driven primarily by deal execution rather than expectations of a higher offer.


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