Knight-Swift – using one M&A side to (likely) finance another
Paying up to boost value, if it works, is marvellous
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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