Aldar shareholders, being pegged as the winners in a proposed merger with Sorouh, may find the tables are turned on them once a deal is announced, say analysts.
Bank of America Merrill Lynch projects that a combined entity with a market cap of US$2.45 billion (Dh8.9bn) would give a merger ratio of 1.56 times, or one Aldar share for every 1.56 Sorouh shares.
Aldar and Sorouh have yet to announce the actual merger ratio. But if the US bank’s prediction is correct, Aldar’s stock is the more valuable of the two companies.
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