AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

Robert Sassoon has been an equity analyst for more than twenty years focusing primarily on global special situations. Robert has worked in research for several large sell-side institutions, including Credit Suisse, Natwest Capital Markets and Societe Generale. During his career, he has achieved top 5 rankings in various analyst surveys, including the Extel and Greenwich surveys.

In 2017, Robert founded AlphaSituations, an idea-generating investment research service with the goal of delivering a unique portfolio of ideas to drive client growth and returns by uncovering compelling and highly profitable value propositions as well as lucrative shorter-term trading situations arising from select dislocating corporate restructuring events and catalysts. Currently, the main geographical focus of the research is North America. Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%.

In January 2022, AlphaSituations was contracted  by Water Tower Research,  an investor engagement and stakeholder communication platform to provide coverage of Special Situations.

AlphaSituations-Event/Catalyst Driven Research

MergerTalk: UnitedTech/Raytheon - It's The UTX Share Price That Needs Adjusting, Not The Terms

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

Event-Driven

On June 14, 2019, we published an insight - <a href="https://www.smartkarma.com/insights/mergertalk-unitedtech-raytheon-it-s-the-utx-share-price-that-needs-adjusting-not-the-terms" target="_blank" rel="noopener">https://www.smartkarma.com/insights/mergertalk-unitedtech-raytheon-it-s-the-utx-share-price-that-needs-adjusting-not-the-terms</a>- on the proposed radical corporate restructuring at <a href="https://www.smartkarma.com/entities/united-technologies-corp" target="_blank" data-smartkarma-citation="entities:12750:1" rel="noopener">United Technologies (UTX US)</a>. Amid the coronavirus inspired market swoon that is currently decimating the global financial markets, the UTX restructuring  involving the spin-off to its shareholders of two significant assets and strong brands in their operating spheres - Carrier and Otis - followed by the merger of the stub (i.e., the aerospace business) with <a href="https://www.smartkarma.com/entities/raytheon-company" target="_blank" data-smartkarma-citation="entities:6453:1" rel="noopener">Raytheon Company (RTN US)</a>, continues as planned. The distribution of Carrier and Otis shares to UTX shareholders will be completed on April 3, 2020, prior to market open when both SpinCos will commence regular-way trade obn the NYSE. The first indication of  how the market values the SpinCos will present itself when when-issued trading for Carrier and Otis start on or around  March 18, 2020 continuing up to and through the distribution date.Below, we provide our detailed valuation theses for both Carrier and Otis, and an updated SOTP assessment of UTX. While it would be reasonable to anticipate continuing share price volatility in the present environment, the current crisis is temporal, not structural. Whether this crisis passes in a few weeks or a few months, we would expect the focus to return to fundamentals within this time frame. Our assessment indicates that a value opportunity in both UTX and RTN shares currently exists for market participants driven by the pending transactions.

On June 14, 2019, we published an insight - https://www.smartkarma.com/insights/mergertalk-unitedtech-raytheon-it-s-the-utx-share-price-that-needs-adjusting-not-the-terms- on the proposed radical corporate restructuring at United Technologies (UTX US). Amid the coronavirus inspired market swoon that is currently decimating the global financial markets, the UTX restructuring  involving the spin-off to its shareholders of two significant assets and strong brands in their operating spheres - Carrier and Otis - followed by the merger of the stub (i.e., the aerospace business) with Raytheon Company (RTN US), continues as planned. The distribution of Carrier and Otis shares to UTX shareholders will be completed on April 3, 2020, prior to market open when both SpinCos will commence regular-way trade obn the NYSE. The first indication of  how the market values the SpinCos will present itself when when-issued trading for Carrier and Otis start on or around  March 18, 2020 continuing up to and through the distribution date.Below, we provide our detailed valuation theses for both Carrier and Otis, and an updated SOTP assessment of UTX. While it would be reasonable to anticipate continuing share price volatility in the present environment, the current crisis is temporal, not structural. Whether this crisis passes in a few weeks or a few months, we would expect the focus to return to fundamentals within this time frame. Our assessment indicates that a value opportunity in both UTX and RTN shares currently exists for market participants driven by the pending transactions.

SpinTalk:  United Tech Restructuring Update:Value Check For UTX, RTN Shareholders Amid Market Swoon