Magic Markets Ep47: Supply Chain Pressures
With supply chains around the world clogged up and companies scrambling to navigate their way through the mess, there have been clear winners in the process like Grindrod Shipping. Is it wise to chase those winners, or to look for the companies that are ready to pounce once the supply chains catch up to demand? In Episode 47 of Magic …
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Magic Markets Ep47: Supply Chain Pressures
With supply chains around the world clogged up and companies scrambling to navigate their way through the mess, there have been clear winners in the process like Grindrod Shipping. Is it wise to chase those winners, or to look for the companies that are ready to pounce once the supply chains catch up to demand? In Episode 47 of Magic …
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Barloworld shifts its portfolio
Barloworld is an interesting company that keeps me busy. I’ve written a few times this year about the happenings at the company. Barloworld is currently a turnaround story. With a market capitalisation above R18bn (the value of the company based on the share price and the number of shares in issue), it’s certainly not a small cap either. The company …
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International firms circling South African companies
The Companies Act requires public companies to make an announcement whenever a shareholder crosses through a 5% milestone. In other words, if a shareholder held 4,8% and bought more shares today, thereby increasing to a shareholding in the company of 5,4%, the company would need to announce on SENS that this has happened. This is important because it alerts the …
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Barloworld gets more starch in its diet
The deal was originally announced in March. Barloworld would buy the Starch division from Tongaat Hulett for R5.35 billion in a critical move for Tongaat which is on a recovery road. As ever, the deal remained subject to shareholder and regulatory approvals. The norm for corporate transactions is to include something called a Material Adverse Change clause, or MAC clause. …
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Barloworld gets its MAC on
Corporate mergers and acquisitions are fascinating beasts. In case you’re wondering, MAC doesn’t stand for mergers and acquisitions, but more on that later. The headlines always describe the deal as though nothing can go wrong. “Tongaat Hulett sells Starch division to Barloworld for R5.35 billion,” screamed the business media back in March. The better media houses (like Creamer Media) typically …
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