News: IPL Indonesia's Pupuk Kaltim in talks to buy Australian Incitec Pivot's fertiliser business..., page-40

"Below are two of the ASX 200 shares in the WAM Leaders portfolio the fund manager is positive about.Incitec Pivot Ltd (ASX: IPL)The fund manager noted Incitec Pivot is split into two businesses. Incitec Pivot Fertilisers is based on the east coast of Australia and focused on soil health for Australian farmers. Dyno Nobel is an explosive producer with global operations focused on mining, quarry, and construction end markets.WAM noted the Incitec Pivot share price has been impacted by lower commodity prices, wet weather, plant shutdowns, termination of gas contracts, and management changes “to a point where the implied valuation for the fertiliser business neared zero”.The ASX 200 share has confirmed there are a number of parties interested in purchasing its fertiliser business, with media reporting the valuation as close to $1.5 billion. These reports recently drove the Incitec Pivot share price higher.The WAM Leaders investment team said:We remain confident in the outlook for Incitec Pivot, with its valuation low and multiple catalysts to realise value."

https://www.********.au/2023/08/17/2-asx-200-shares-with-a-low-valuation-and-multiple-catalysts/