Comment / M&A radar: SF Holding + Kerry – hitting the jackpot via a smart deal structure

Calling the SF Holding + Kerry Logistics Network (Kerry) tie-up structure was a bit of a headache – and in fact, to my knowledge, nobody guessed it right earlier this month when the initial rumours emerged.

However, we weren’t far away from winning it last week (here: “Enter the Chinese mammoth and goodbye Kerry Logistics“) when – after gathering meagre market feedback in the wake of a rather disjointed, yet useful, press coverage – Premium’s suggestion of a free float* in ...