The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
MM,
Noticed that too. If so, Shard are really putting in a shift to get them away, so much more urgency it appears than tranche 1. Is there any particular reason I wonder !! ;-)
SQZ must complete a transformational deal outside of UK cash-grabbing fiscal terms in order for re-rate to occur, everyone knows it but WHEN !!!
From HBR deal yesterday BofA said in a research note :
“To us, diversification from the UK and its associated fiscal uncertainty was always the major route to re-rating Harbour’s muted valuation,”
BofA would not be alone in that view.
aimo & dyor
SP Management now the name of the game for institutional investors.
SP is only where it should be WITHOUT this deal, so plenty of run-room left for buy 'n' hold PI's atm.
PS Traders will be all over this for months to come so a slow and steady rise with obvious pull-backs up until completion.
aimo & dyor
Still can't get over how we are getting Wintershall to partially pay for the deal themselves, with their own cash :
"$2.15 billion of cash consideration to be funded through cash flow generated from the Target Portfolio between the effective date of 30 June 2023 and completion, and an underwritten bridge facility..."
"and secure a US listing in 2025..."
I would think HBR will be targeting US listing a lot sooner, hence why the webcast was timed for their viewing. Move off FTSE even if they are to be a FTSE100 player will be a great move imo.
BB,
Should of followed, only moved ~35% over to HBR in addition to financials & tech stocks ... :-(
Well done BB, with you on "Still don't get the TWND deal." but knowing us HBR took the Wintershall from under our noses.
aimo & dyor
Hope Sunak and Hunt are watching.
No doubt HBR will be supplying vast amounts of gas to UK from our overseas assets whist UK Gov kills off NS production with EPL.
Shackles of EPL now removed and two fingers firmly pushed up against the nose of UK GOV, what a deal, this will have reverberation.
aimo & dyor
Oh, and HBR are getting Wintershall to partially pay for the deal themselves :
"$2.15 billion of cash consideration to be funded through cash flow generated from the Target Portfolio between the effective date of 30 June 2023 and completion, and an underwritten bridge facility..."
Unbelievable deal .....
The LTIP RNS announced earlier this year for awards to vest in full at 500p/s is easily achievable given such a deal akin to HBR's.
aimo & dyor
We are getting them to partially pay for the deal themselves :
"$2.15 billion of cash consideration to be funded through cash flow generated from the Target Portfolio between the effective date of 30 June 2023 and completion, and an underwritten bridge facility..."
Such a massive deal, this had to be released intra-day as soon as the ink dried.
I cast my mind back to what was said at time of TW deal, could SQZ really pull-off a deal of this magnitude, with Mercuria pulling the strings, I think so. Didn't think I would see such another transformational deal as BKR, I was wrong.
SQZ, your turn, or have HBR got the Wintershall over the line first !
aimo & dyor
This one is just unreal, some deal :
"Approximately 921.2 million new Harbour shares issued to Wintershall Dea's shareholders (the "Consideration Shares") at an agreed value of $4.15 billion or 360 pence per Harbour share, representing a premium of c.60 per cent to Harbour's 30-day volume weighted average share price of c.227 pence[16], such that on completion...!
Mitch, do a deal like this and all will be forgiven.
We all knew that HBR was undervalued by a country mile, not unlike SQZ, as both being primary NS focused. That has all changed with this deal for HBR, SQZ need the same and it just might, I say might happen.
aimo & dyor
Mitch, Take a look at HBR, now That's the Way To Do It !!!
Transforms scale and geographic diversification
Materially enhances production, reserve life and margins
Increases exposure to natural gas and lowers emissions intensity
Delivers significant financial synergies
Immediately accretive to free cash flow
Enhanced and sustainable shareholder returns
aimo & dyor
Of course if ML case was to be thrown out and it has leaked then for sure the shorter's would be working together ( not illegal at all, lol ) to close out as low as possible, feels like this is happening atm, unless there is M&A on the horizon too. Xmas and new year might also be a reason to close out ..... imagine being caught short over the festive period !!!
aimo & dyor