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Carole Braudeau
  • Carole Braudeau

Credit Morning 02/24/2025

THOM Group: Q1 results in line with expectations, Q2 seems to be off to a good start.|Just East Takeway: Prosus to launch bid for 100% of share capital|Teva: positive Phase 2b results for the divakitug drug, launch of Phase 3 in H2 2025|Saipem: proposal to merge with Subsea7|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 24/02/2025

THOM Group : des résultats T1 conformes aux attentes, le T2 semble bien débuter|Just East Takeway : Prosus lance une offre de rachat sur 100% du capital.|Teva : données positives de phase 2b pour le médicament divakitug, lancement de la phase 3 au S2 2025|Saipem: proposal to merge with Subsea7|

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Fagron: FDA says semaglutide shortage is resolved. GBL: Imerys, a challenge and a possible solution. Food Delivery: Prosus set to acquire Just Eat Takeaway. PostNL: Final FY24 results in line, FY25 outlook below due to strategic investments. Retail Estates: 9-month update with no surprises

Hilde Van Boxstael ... (+6)
  • Hilde Van Boxstael
  • Michiel Declercq
  • Thomas Couvreur
  • Thomas Vranken
  • Wim Hoste
  • Wim Lewi
Michiel Declercq
  • Michiel Declercq

Just Eat Takeaway JET and Prosus agree on € 20.3ps all cash offer for ...

This morning, Prosus and JET announced that they have agreed on a recommended all cash off for 100% of JET shares at a price € 20.30 ps, or the equivalent of € 4.1bn. The acquisition represents a 63% premium to Friday's closing price and 49% premium over the 3-month VWAP. Board members holding shares and CEO Jitse Groen, who represent 8.1% of the shares, have committed to tender their shares in the offer. Overall, we believe the offer makes sense as JET's EU market exposure is complementary to ...

Clement Genelot
  • Clement Genelot

Just Eat Takeaway: Prosus arrives as Santa Claus with a two-month dela...

With Prosus launching a generous EUR20.3/cash offer for JET with a 63% premium and little likelihood of a counter-bid or upgraded bid, we will recommend that shareholders tender to the offer in Q2. It remains unclear whether Prosus will be able to handle a delisting of JET and Delivery Hero at the

Pierre FerraguÊ
  • Pierre FerraguÊ

Soitec: Is the growth story dead?

Soitec's stock dropped >20% after guiding FY26 (Mar-26) well below expectations. In today’s note, we explore the drivers behind the weakness and address the key question: Is Soitec’s growth story dead?

Carole Braudeau
  • Carole Braudeau

Credit Morning 02/11/2025

Q1 25: Good LfL growth and adj. EBIT increase; guidance confirmation|Coty: new warning but profitability still up in Q2 and deleveraging path confirmed|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 11/02/2025

Q1 25: Good LfL growth and adj. EBIT increase; guidance confirmation|Coty : nouveau warning à l’issue du T2, mais rentabilité en hausse et baisse du levier confirmée|

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