In a way that has previously created shareholder wealth for The Wallenberg family (considered the Rockefellers or Rothschilds of Sweden) via their holding company Investor AB (INVEB SS), one of the largest global appliances makers Electrolux AB (ELUXB SS) will be Spinning off its profitable commercial kitchen and laundry equipment business by February 2020. Provided no major surprises to ELUX’s end of January release of its demerger prospectus, we believe an entry position pre-Spin is warranted.
10 Jan 2020
The Edge’s analysis of the retail sales over Black Friday and Cyber Monday confirms the polarization of high-end and low-end retailers. We have also found that BOPIS (buy online, pick-up in-store) is currently the preferred method of purchases on the high street. The retailers, all of which are recovering from the retail apocalypse and have embraced this new style from the consumer, are starting to gain with real traction. Those that are not adapting are falling behind quite fast.
16 Dec 2019
With Danaher Corp. (DHR) looking to entice shareholders to exchange all or some of their common stock in DHR for shares in Envista Holdings (NVST) at a potential 7% discount to NVST’s share price as the company removes its 80.6% stake, these type of IPO-Exchange Offer transactions are infrequent (recently ZTS and ELAN). Click here for our full analysis as we look further into the performance of these type of deals and the potential opportunity ahead.
10 Dec 2019
For Swedish investment company Kinnevik AB (KINVB), this is the second stake distribution for the company in the last year or so as it distributes its entire 37.2% stake in Latin American and African telecom company, Millicom International Cellular SA (TIGO). However, due to stiff competition from larger peers operating in Latin America, KINV’s initial challenge to exit its stake in TIGO via an IPO as large shareholders trim their stake, we will continue to watch from the side lines.
27 Nov 2019
The French Government's privatization of state lottery company Francaise des Jeux (FDJ) will see approximately 52% of shares offered to retail and institutional investors between November 7 and November 20, with the first day of public trading on November 21, 2019. Our analysis of the situation indicates strong growth in the near-term driven by stable fundamentals, attractive dividend payments, and a long-term exclusivity deal made with the French State. Read on for more details.
11 Nov 2019
After years of operational underperformance by the management of Bed Bath & Beyond, Inc. (BBBY), which translated into diminishing returns for shareholders, a trio of activist investors called for a strategic overhaul in March 2019. After revamping the board in May 2019, our interest turned to the recent hiring of CEO Mark Tritton. Drawing similarities from covering and analyzing successful turnaround stories, we believe there is more to come for BBBY.
11 Nov 2019