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.

Spire Heathcare: Spire Healthcare: Healthy Premium, Sick Multiple

Spire Healthcare: Strategic Review Turns Live — Valuation Gap Vs Precedent Is Wide

Event-Driven

<ul>
<li>Toscafund’s 250p proposal is now a recommended, fully financed Scheme, backed by Three Hills and Ares, with irrevocables covering 42.7% of Scheme Shares.</li>
<li>Even at 100% turnout, Bidco needs support from only 56.4% of remaining uncommitted Scheme Shares. We assign 90% completion probability.</li>
<li>More than 60 potential buyers were contacted over eight months. No higher executable proposal emerged, leaving limited scope for a topping bid.</li>
</ul>


Toscafund’s 250p proposal is now a recommended, fully financed Scheme, backed by Three Hills and Ares, with irrevocables covering 42.7% of Scheme Shares.
Even at 100% turnout, Bidco needs support from only 56.4% of remaining uncommitted Scheme Shares. We assign 90% completion probability.
More than 60 potential buyers were contacted over eight months. No higher executable proposal emerged, leaving limited scope for a topping bid.


Spire Healthcare: 250p, This Time With a Deal