Incitec Pivot Ltd T.IPL

Primary Symbol: ICPVF

Chemicals Basic Materials

Incitec Pivot Limited is an Australia-based manufacturer and supplier to the resources and agricultural sectors. Its segments include Asia Pacific and Americas. Asia Pacific segment includes Fertilisers Asia Pacific (Fertilisers APAC) and Dyno Nobel Asia Pacific (DNAP). Fertilisers APAC manufactures and sells fertilizers in Eastern Australia and the export market. It also manufactures, imports and sells industrial chemicals to the agricultural sector and other specialist industries. DNAP manufactures and sells industrial explosives and related products and services to the mining industry in the Asia Pacific region, Turkey and France. Americas segment includes Dyno Nobel Americas, which manufactures and sells industrial explosives and related products and services to the mining, quarrying and construction industries in the Americas (Canada, Mexico and Chile) and initiating systems to businesses in Australia, Turkey and South Africa. It also manufactures and sells industrial chemicals.

OTCPK:ICPVF - Post by User

Incitec Pivot Ltd > BIPC raises their bid $19.75

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Comment by PabloLafortuneon Jun 03, 2021 1:48am

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Post# 33317145

RE:RE:RE:RE:RE:BIPC raises their bid $19.75

The share ratio is 2.56, PPL does not quite generate 2.56x the cashflow that IPL does (method: q4 to Q1 balance sheet net debt & pref changes + capex + common dividend) imo. Also the debt if you include PPL's prefs is higher at IPL but if they were to dispose of HPC for $1.8B (bear with me)..., it would be similar. Therefore, my napkin analysis is that 0.5 share of PPL for every IPL share is too low, it favors PPL shareholders. 0.55 is an extra $800M I think (ie HPC valued at $2.6B), 0.6 is an extra $1.6B.

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