Henderson Group PLC

HGG Details
·         Merger with Janus Capital: Henderson Group PLC (ASX: HGG) stock rose over 2.9% on April 03, 2017 along with an overall improved drive for ASX shares. Recently, HGG announced for a transformational merger with Janus Capital, which would position the group for future growth. In June 2017, the name change is expected to be effected by ASX and commencement of normal trading in new Janus Henderson CDIs under ASX ticker 'JHG' is expected to begin. In 2016, the company has posted a 3% fall in the underlying profit before tax to £212.7m.

·         Recommendation:  HGG stock fell over 4.27% in the last six months (as of March 31, 2017) and is currently trading at a high level. Given the challenging conditions, we give an “Expensive” recommendation on the stock at the current price of – $ 3.92 

Indicative Timetable (Source: Company Reports) 

Spark New Zealand Ltd

SPK Details
·         Response to TeamTalk: Spark New Zealand Ltd (ASX: SPK) stock rose over 3.5% on April 03, 2017. SPK has recently responded to TeamTalk target company statement. The directors of the TeamTalk see the SPK Offer as opportunistic one and representing an attempt to exploit a low point in TeamTalk’s share price trading. On the other hand, the directors of the TeamTalk view that SPK offer does not reflect the fair value of TeamTalk’s shares and the shareholders should decline the Offer. SPK has responded to TeamTalk's target company statement and independent adviser's report, and believes that the valuation lacks real world credibility. The top end of the range represents a premium to the last trading price before the SPK notice of intention of 369%, which is patently absurd. Meanwhile, the group’s Chief Transformation Officer, David Havercroft is stepping down from July 2017.

·         Recommendation: SPK stock fell 6.9% in the last six months (as of March 31, 2017). We give a “Hold” recommendation on the stock at the current price of – $ 3.29

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