Comment / M&A radar: Unloved SATS + WFS – hard to handle, hits another low

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It wasn’t such a bad day in Asia trade, with most indexes flattish, but it was a day to forget for Singapore’s SATS, the buyer of Worldwide Flight Logistics.

The ’M&A put’ isn’t working just yet.

Its stock* hit another 52-week low of S$2.82 on thin reported volumes, closing at S$2.84, which is perilously close to the “illustrative” price levels tied to a rights issue, whose proceeds would be used to fund most of the deal.

(*In orange in the table below, is highlighted ...