The make up of the deal is going to be interesting - another article in AFR regarding the late stages with Morrison down to the final two bidders.
Things to consider - This sort of large deal may see a mix of Morrison managed funds, Infratil , third parties and Icon group senior management in the bid. This was similar to the model used for the Vodafone bid (3.4 billion so in thne same ballpark). Infratil took the lead on the bid at 40%. - UBS is also promoting Canopy Cancer care in NZ (https://www.copyright link/street-talk/ubs-kicks-off-investor-search-for-nz-s-canopy-cancer-care-20210927-p58v09) - The proceeds from the Trustpower deal - 51% of $441 million.
40% stake of both entitites (assume $3.5b) with a cap raise of $500 - $600m ? For just Icon it would probably be a $300 - $400m cap raise.
IFT Price at posting:
$7.90 Sentiment: Buy Disclosure: Held
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