Premium Price Takeover Bids Continue to Spark M&A Interest Amid Global Slowdown April 18, 2022 - Baystreet.ca USA News Group – Under the current state of geopolitical uncertainty has dropped Global M&A markets to pre-pandemic levels. Despite this slowdown’s biting into the profits of large global banks, there are still some significant takeover bids on the table which involve premium prices, including a sizeable bid for energy tech developers Petroteq Energy, Inc. (OTC:PQEFF) by Viston United Swiss AG, a contentious takeover bid by KKR & Co. Inc. (NYSE:KKR) for Italy’s national phone company Telecom Italia S.p.A. (OTC:TIAAY), and the purchase of auto dealer management software providers CDK Global, Inc. (NASDAQ:CDK) by Brookfield Asset Management Inc. (NYSE:BAM). Shareholders of Petroteq Energy, Inc. (OTC:PQEFF)—developers of an innovative and proven Clean Oil Recovery Technology (CORT)—are weighing a takeover bid from clean technologies investment firm Viston United Swiss AG that is set to be complete in less than a week. Viston’s offer has been favorably received by the entire Petroteq team, with unanimous intention to tender shares from the Board of Directors, the company’s Founder, Former Chairman and CEO Alex Blyumkin, and one of the company’s largest shareholders, Cantone Asset Management, LLC. “After thorough consideration of all aspects of the Viston Offer, the advice provided by Haywood and consulting with its other advisors, the Board has unanimously determined to recommend that Shareholders accept the Viston Offer and tender their Common Shares,” said the Board in their official statement. At C$0.74 (US$0.59) per common share, Viston’s offer gives Petroteq a valuation of 279% over the closing price of C$0.195 on the TSX-V August 6, 2021—the day prior to the Canadian exchange’s cease trade order began. This valuation also delivers a 1,032% premium over the TSX-V volume-weighted average price of $0.065 per common share for the 52-week period preceding April 15, 2021—the last trading day prior to the publication of the voluntary purchase offer in Germany. For many months, shares of Petroteq on the Canadian Exchange have ceased trading. However, in the USA, investors can continue to trade shares under the OTC symbol PQEFF, in a form of merger arbitrage trading. Now with less than a week to go before the April 14, 2022 deadline, shares of PQEFF continue to trading at ~US$0.37. This means there’s still a near 60% premium left available for those who follow through offering their shares to the buyer through the official takeover offer website PetroTeqoffer.com. "We are particularly pleased with the recognition this shows of our technology which we have taken from inception to commercial viability as a one of its kind in oil sands eco-friendly, green extraction,” said former Petroteq Chairman and CEO, Dr. Gerald Bailey at the time of the offer, before he retired in January. “We had always forecast a great future. However, we respect the value of this offer to shareholders and if it can be achieved it will reward our many dedicated supporters." Despite presenting a $36-billion takeover offer valued at a near 50% premium for Italy’s national phone company, Telecom Italia S.p.A. (OTC:TIAAY), it appears that bidders KKR & Co. Inc. (NYSE:KKR) may be walking away empty handed. “Given that KKR did not confirm its Expression of Interest, including the price therein previously indicated, the Board unanimously decided that it would not be appropriate at this time to grant KKR access to due diligence,” said Telecom Italia. “Should KKR submit a deliverable, complete and attractive offer (including, amongst other things, a price per TIM ordinary / saving share), TIM Board of Directors would be open to reconsidering its decision in the interest of all shareholders.” The non-binding November proposal could’ve been seen as a slam dunk with its premium price and low acceptance threshold. However, Telecom Italia sprang into action, by replacing its CEO and embarking on a new strategy to split in two—which apparently was what KKR had in mind in the first place. During the saga, the average analyst price target for Telecom Italia has fallen 14%. Earlier in March 2022, Telecom Italia’s Board of Directors said it remains committed to its own reorganization plan, which hinges on an eventual merger with smaller state-backed rival Open Fiber SpA. Shares of CDK Global, Inc. (NASDAQ:CDK) jumped more than 10% after the software developer and technology provider for auto dealers agreed to be acquired for $54.87 per share in a transaction valued at approximately $8.3 billion by Brookfield Asset Management Inc. (NYSE:BAM) and its institutional partners. With annual revenue of $1.7 billion, CDK Global is a leading provider of technology services and software solutions that help automotive dealers and manufacturers run their businesses more efficiently. The deal came with a 12% premium over the previous day’s closing price, and also a 30% premium over CDK’s closing price on February 18, 2022 when it was first reported the company was exploring a sale. “CDK Global is a high-quality and highly cash generative technology services and software business with a leading market position and strong fundamentals,” said Doug Bayerd, Managing Director, Brookfield Business Partners. “We are excited to grow our technology footprint with the acquisition of CDK Global, and we look forward to leveraging our operating capabilities to build on the Company’s track record of providing best-in-class customer service and innovation.” Article Source: https://usanewsgroup.com/2022/03/25/this-quick-turnaround-takeover-is-the-kind-of-play-smart-investors-snap-up-in-a-heartbeat DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for PetroTeq Energy Inc. advertising and digital media from Maynard Communication Limited. There may be 3rd parties who may have shares of PetroTeq Energy Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ owns shares of PetroTeq Energy Inc. which were purchased in the open market at least 72 hours after our initial coverage date of the company. MIQ reserves the right to buy and sell, and will buy and sell shares of PetroTeq Energy Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ on/about PetroTeq Energy Inc. has been reviewed and approved by the principals at PetroTeq Energy Inc.; this is a paid advertisement, and while we do own shares of PetroTeq Energy Inc. that were purchased in the open market, we plan on buying and selling more shares of PetroTeq Energy Inc. in the open market. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Premium Price Takeover Bids Continue to Spark M&A Interest Amid Global Slowdown April 18, 2022 - Baystreet.ca USA News Group – Under the current state of geopolitical uncertainty has dropped Global M&A markets to pre-pandemic levels. Despite this slowdown’s biting into the profits of large global banks, there are still some significant takeover bids on the table which involve premium prices, including a sizeable bid for energy tech developers Petroteq Energy, Inc. (OTC:PQEFF) by Viston United Swiss AG, a contentious takeover bid by KKR & Co. Inc. (NYSE:KKR) for Italy’s national phone company Telecom Italia S.p.A. (OTC:TIAAY), and the purchase of auto dealer management software providers CDK Global, Inc. (NASDAQ:CDK) by Brookfield Asset Management Inc. (NYSE:BAM). Shareholders of Petroteq Energy, Inc. (OTC:PQEFF)—developers of an innovative and proven Clean Oil Recovery Technology (CORT)—are weighing a takeover bid from clean technologies investment firm Viston United Swiss AG that is set to be complete in less than a week. Viston’s offer has been favorably received by the entire Petroteq team, with unanimous intention to tender shares from the Board of Directors, the company’s Founder, Former Chairman and CEO Alex Blyumkin, and one of the company’s largest shareholders, Cantone Asset Management, LLC. “After thorough consideration of all aspects of the Viston Offer, the advice provided by Haywood and consulting with its other advisors, the Board has unanimously determined to recommend that Shareholders accept the Viston Offer and tender their Common Shares,” said the Board in their official statement. At C$0.74 (US$0.59) per common share, Viston’s offer gives Petroteq a valuation of 279% over the closing price of C$0.195 on the TSX-V August 6, 2021—the day prior to the Canadian exchange’s cease trade order began. This valuation also delivers a 1,032% premium over the TSX-V volume-weighted average price of $0.065 per common share for the 52-week period preceding April 15, 2021—the last trading day prior to the publication of the voluntary purchase offer in Germany. For many months, shares of Petroteq on the Canadian Exchange have ceased trading. However, in the USA, investors can continue to trade shares under the OTC symbol PQEFF, in a form of merger arbitrage trading. Now with less than a week to go before the April 14, 2022 deadline, shares of PQEFF continue to trading at ~US$0.37. This means there’s still a near 60% premium left available for those who follow through offering their shares to the buyer through the official takeover offer website PetroTeqoffer.com. "We are particularly pleased with the recognition this shows of our technology which we have taken from inception to commercial viability as a one of its kind in oil sands eco-friendly, green extraction,” said former Petroteq Chairman and CEO, Dr. Gerald Bailey at the time of the offer, before he retired in January. “We had always forecast a great future. However, we respect the value of this offer to shareholders and if it can be achieved it will reward our many dedicated supporters." Despite presenting a $36-billion takeover offer valued at a near 50% premium for Italy’s national phone company, Telecom Italia S.p.A. (OTC:TIAAY), it appears that bidders KKR & Co. Inc. (NYSE:KKR) may be walking away empty handed. “Given that KKR did not confirm its Expression of Interest, including the price therein previously indicated, the Board unanimously decided that it would not be appropriate at this time to grant KKR access to due diligence,” said Telecom Italia. “Should KKR submit a deliverable, complete and attractive offer (including, amongst other things, a price per TIM ordinary / saving share), TIM Board of Directors would be open to reconsidering its decision in the interest of all shareholders.” The non-binding November proposal could’ve been seen as a slam dunk with its premium price and low acceptance threshold. However, Telecom Italia sprang into action, by replacing its CEO and embarking on a new strategy to split in two—which apparently was what KKR had in mind in the first place. During the saga, the average analyst price target for Telecom Italia has fallen 14%. Earlier in March 2022, Telecom Italia’s Board of Directors said it remains committed to its own reorganization plan, which hinges on an eventual merger with smaller state-backed rival Open Fiber SpA. Shares of CDK Global, Inc. (NASDAQ:CDK) jumped more than 10% after the software developer and technology provider for auto dealers agreed to be acquired for $54.87 per share in a transaction valued at approximately $8.3 billion by Brookfield Asset Management Inc. (NYSE:BAM) and its institutional partners. With annual revenue of $1.7 billion, CDK Global is a leading provider of technology services and software solutions that help automotive dealers and manufacturers run their businesses more efficiently. The deal came with a 12% premium over the previous day’s closing price, and also a 30% premium over CDK’s closing price on February 18, 2022 when it was first reported the company was exploring a sale. “CDK Global is a high-quality and highly cash generative technology services and software business with a leading market position and strong fundamentals,” said Doug Bayerd, Managing Director, Brookfield Business Partners. “We are excited to grow our technology footprint with the acquisition of CDK Global, and we look forward to leveraging our operating capabilities to build on the Company’s track record of providing best-in-class customer service and innovation.” Article Source: https://usanewsgroup.com/2022/03/25/this-quick-turnaround-takeover-is-the-kind-of-play-smart-investors-snap-up-in-a-heartbeat DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for PetroTeq Energy Inc. advertising and digital media from Maynard Communication Limited. There may be 3rd parties who may have shares of PetroTeq Energy Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ owns shares of PetroTeq Energy Inc. which were purchased in the open market at least 72 hours after our initial coverage date of the company. MIQ reserves the right to buy and sell, and will buy and sell shares of PetroTeq Energy Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ on/about PetroTeq Energy Inc. has been reviewed and approved by the principals at PetroTeq Energy Inc.; this is a paid advertisement, and while we do own shares of PetroTeq Energy Inc. that were purchased in the open market, we plan on buying and selling more shares of PetroTeq Energy Inc. in the open market. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.