Download PDF Introduction On the 28th of October Oak Hill Advisors (OHA), an American credit manager, announced that it had reached an agreement with T Rowe Price, the US asset manager, to be acquired for $4.2bn in cash and shares. T Rowe Price’s CEO, Bill Stromberg, said that this takeover Read more…
Download PDF Introduction As of Q2 2021, Third Point began amassing a $750m position in the Anglo-Dutch oil giant Shell to capitalize on impending corporate change. With Shell facing increased pressures to both decarbonize as well as increase their current scanty annualized returns from governments and investors alike, Third Point Read more…
Download PDF Introduction On October 25th, Hellman & Friedman and EQT announced a partnership to make a joint public takeover offer for all outstanding shares of Zooplus. With the joint offer, the two private equity groups ended the bidding war for the online pet supplies retailer that occurred in the Read more…
Download PDF Introduction Fixed income investments allow investors to generate steady cashflows in the future, diversify equity exposure, and lower portfolio volatility. Current inflationary pressures, tighter monetary policy, and concerns about the prospect of rising interest rates are making investors question how strategic exposure to fixed income securities can help Read more…
Download PDF Introduction Emerging Markets have long been just that: markets that are only just in the process of becoming developed, and are still lagging behind established market economies. Recently, however, the pace of development has increased drastically in these economies, particularly in their technology sectors. Reasons for this are Read more…
Download PDF Introduction This article will ostensibly be a distillation and discussion of the paper ‘Ex-Dividend Arbitrage in Option Markets’ by Hao, Kalay and Mayhew. [1] They find that a significant fraction of American call option holders do not behave in line with rational exercise policy regarding dividends, leaving money Read more…
Download PDF Introduction On October 20, 2021, Former U.S. President Donald Trump announced his new digital-media venture and revealed that it would go public by merging with a special-purpose acquisition company (SPAC). Trump Media & Technology Group will create a social network called Truth Social to fight the current popular Read more…
Download PDF USA U.S. equities rallied to new highs as the busiest week in earnings season came to an end, marking October as the best-performing month of 2021. The S&P 500 breached the 4,600 mark and closed 1.33% up on the week, at 4,605.38. The tech-heavy Nasdaq composite also reached Read more…
Download PDF Introduction On 7th October, Newcastle United Football club was acquired for £300m by a Saudi-led consortium made up of Public Investment Fund, PCP Capital Partners and RB Sports & Media. The Public Investment Fund is the sovereign wealth fund of Saudi Crown Prince Mohammed bin Salman who will Read more…
Download PDF Introduction On September 28, 2021, Blue Prism, a British enterprise software company that specializes in software robots that automate monotonous jobs, announced that it has reached an agreement with private equity firm Vista Equity Partners to be acquired for £1.1bn ($1.5bn) in cash. Blue Prism, whose clients include Read more…
Download PDF Merck & Co. (NYSE: MRK) Market Cap as of 8th October 2021 – $204.10bn Acceleron Pharma, Inc. (NASDAQ: XLRN) Market Cap as of 8th October 2021 – $10.68bn Introduction On Thursday 30th September, Merck & Co.’s acquisition of Acceleron Pharma for a total consideration of about $11.5bn was announced. Merck has agreed Read more…
Download PDF Introduction Is the energy inflation in Europe transitory or structural? The plethora of factors that are affecting the energy market highlights the complexity of this question. The kind of inflation seen in energy is catching some Governments on their back foot, in need of rapid reactions. With many Read more…
Download PDF Introduction Polestar, the Swedish premium electric car maker, has announced it will go public. It will do so by merging with a blank-check company backed by private equity investor Alec Gores and investment bank Guggenheim Partners. The implied enterprise value will amount to $20bn. The transaction will mark Read more…
Download PDF Introduction In the following article we will shortly analyse the implications of the current macroeconomic environment for equities, and we will propose a trade idea on a small cap stock we have identified in the Italian stock market. The Macroeconomic Background In the last week it has become Read more…
Download PDF USA The DJIA, S&P 500, and Nasdaq composite ended the week recording gains, despite weaker than expected U.S. jobs data, which brought about concerns over the recovery for the world’s largest economy. The DJIA and S&P 500 increased by 1.22% and 0.79% respectively, this week, while the Nasdaq Read more…