Nielsen Holdings N.V. Message Board
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I have to believe that the Aurizon deal is dead, and HL just got a free out via MAC clause. The shareholder meeting is scheduled for May 9. It likely will be postponed next week as the lawyers try to figure out how to kill or restructure. IMO, there is no way the the BoD of HL could continue to recommend the transaction under its announced terms. My guess is that the two sides simply walk away. Risk arbs who were long AZK will have just had one of their worst days EVER. The 5.875% Notes issued last month by HL will be redeemed with escrowed proceeds. Finally: by mid-May, we are back to stand alone HL with $23 silver and $1400 gold.
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It was a good quarter. But I think they are challenged to sustain consistency of results. Looks like there was a sizable order delivery in Q3, new orders could not keep up, and book to bill fell to 0.86. It could happen, but I would not expect a repeat of this qtr right away.
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Oooops. I take it all back. AZK claims it's a small spill, so HL can't walk. Too bad for HL shareholders.
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Oy vay. What is it? Still 60x PE. Insiders were unloading at half the current price. What gives?