Knight-Swift – using one M&A side to (likely) finance another
Paying up to boost value, if it works, is marvellous
ID 19906581 © Wenani | Dreamstime.com
With all eyes on CPI numbers from the US out today, trading in Asia was slightly mixed but one noticeable loser stood out: SATS, the new partner of France’s WFS.
The stock, down to S$2.8, -6.3%, at one point, was significantly closer to the post-WFS deal lows of S$2.49 than 52-week highs of S$4.7. It ended the session at S$2.86, still 4.7% worse off than the prior day. The culprit: poor fiscal Q3 22 numbers released on Monday, (unlucky) 13 February, after ...
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