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

Seven West Media (SWM AU): Scheme Vote on 22 December

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/seven-west-media-ltd" target="_blank" data-smartkarma-citation="entities:804:1" rel="noopener">Seven West Media (SWM AU)</a> will merge with <a href="https://www.smartkarma.com/entities/southern-cross-media-group-ltd" target="_blank" data-smartkarma-citation="entities:10374:1" rel="noopener">Southern Cross Media (SXL AU)</a> at a ratio of 0.1552 SXL shares per SWM share. </li>
<li>The merger is strategically sensible and is expected to deliver annualised cost synergies of A$25 to A$35 million. The merger requires approval from both the ACMA and the ACCC.</li>
<li>While the offer is light compared to historical exchange ratios and peer multiples, large SWM shareholders are supportive. The scheme vote risk is low. </li>
</ul>



Seven West Media (SWM AU) will merge with Southern Cross Media (SXL AU) at a ratio of 0.1552 SXL shares per SWM share. 
The merger is strategically sensible and is expected to deliver annualised cost synergies of A$25 to A$35 million. The merger requires approval from both the ACMA and the ACCC.
While the offer is light compared to historical exchange ratios and peer multiples, large SWM shareholders are supportive. The scheme vote risk is low. 


Seven West Media (SWM AU): Merger with Southern Cross Media (SXL AU)