|Bid||35.22 x 900|
|Ask||35.28 x 800|
|Day's range||35.03 - 35.29|
|52-week range||29.56 - 48.69|
|Beta (5Y monthly)||1.99|
|PE ratio (TTM)||14.14|
|Earnings date||04 Feb 2020|
|Forward dividend & yield||2.00 (5.72%)|
|Ex-dividend date||05 Nov 2019|
|1y target est||37.29|
Moelis & Company will release its full year and fourth quarter 2019 financial results after the market closes on Wednesday, February 5, 2020.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterCell C Pty Ltd.’s creditors aren’t giving up on a takeover offer from rival Telkom SOC Ltd., which South Africa’s third-largest mobile-network operator rejected last week.Senior debt holders have hired investment-banking firm Moelis & Co. and corporate lawyers Linklaters LLP and DLA Piper LLP to lobby for the Telkom proposal, people familiar with the matter said. They could block Cell C from pursuing an alternative recapitalization plan by forcing the carrier into liquidation or business rescue, said the people, asking not to be identified because talks are ongoing.A takeover by Telkom would return about 86 cents on the rand to lenders, while banks may have to take a deeper haircut if Cell C goes ahead with a transaction involving local investment company Buffet Group, they said. Creditors are also requesting that Cell C’s board act independently from Blue Label Telecoms Ltd., which owns 45% of the company, the people said.“Cell C and its various stakeholders, including the creditors, are working collaboratively to conclude a restructure that addresses all parties interests,” Cell C said in an email. “It is important to respect the confidentiality of these discussions. Information circulating in the public domain about these discussions should be viewed with a degree of caution. Cell C confirms that constructive discussions on the recapitalization are underway and will update the market on all material matters in due course.”Linklaters, DLA Piper and Moelis & Co. declined to comment, while Buffet Group could not be reached. Telkom said it hasn’t had any further communication from Cell C’s side.It’s not the first time Cell C has spurned advances from Telkom, which wants to combine the country’s two smallest network operators to better compete against industry leaders MTN Group Ltd. and Vodacom Group Ltd. After running into financial difficulties in 2016, Cell C opted for a deal with Blue Label.In July, Cell C missed interest payments and suspended future obligations, resulting in S&P Global Ratings cutting Cell C’s assessment to default. The company, which generates about 15 billion rand ($1 billion) in revenue, is struggling to repay about 9 billion rand of debt.Cell C agreed on an extended roaming agreement with MTN last month that will give it access to the network of South Africa’s second-largest wireless carrier. As part of that pact, Cell C will pay as much as 5 billion rand a year in roaming charges, from about 1.8 billion rand, the people said. Lenders haven’t been given a chance to review the deal, they said.(Corrects description of Blue Label stake in third paragraph and adds updated statement from Cell C in fourth paragraph for story published on Dec. 2)To contact the reporter on this story: Loni Prinsloo in Johannesburg at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Vernon Wessels, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moelis & Company , a leading global independent investment bank, today announced that Ken Moelis, Chairman and Chief Executive Officer, is scheduled to present at the Goldman Sachs US Financial Services Conference on Tuesday, December 10, 2019 at 11:10 a.m.
(Bloomberg Opinion) -- The scaling back of Saudi Aramco’s initial public offering — despite nearly every major investment bank being involved — raises awkward questions about the effectiveness of mammoth syndicates of advisers and IPO book-runners. More appears to be less.Almost all of the big Wall Street and European investment banks are on the roster for the sale of shares in the world’s most profitable company. Alongside them were no less than three so-called “special advisers,” M Klein & Co., Lazard Frères SAS and Moelis & Co. Usually, that job would be to prevent the book-runners (who underwrite the offering) from setting a price that’s an easy sell but less than ideal for the vendor. They probably had a more general role here. Either way, with three firms in this category, it’s a wonder there wasn’t another layer of advisers on top.The syndicate’s job was largely to sell the Aramco shares to big institutional funds in the West. Now, with Saudi Arabia focusing on a local sale, their work is pretty much redundant.It’s hard to see how having so many banks on a deal is the optimal structure for generating frank, persuasive, timely advice — which is what this situation needed. It’s also questionable whether having this number of lenders helped in that failed effort to sell Aramco’s stock to a wider audience.First, the advice. The notion that Aramco is worth $2 trillion has dogged the situation from the start despite early concerns among equity analysts that the valuation was aggressive relative to the listed oil sector. There were no incentives for advisers to reset that unrealistic figure early in the process. In fact, the dynamics would have reinforced it.Every bank scrambled to get on the deal, mindful of the risk that proffering a conservative valuation might close the door. Moreover, the hit to their credibility would be shared across a wide group of peers if the number wasn’t delivered. Such a dilution of accountability makes it unlikely that anyone will deliver a singular, unpopular message to the client.Finally, the huge distribution network for the shares looked excessive too, even if the advisers and book-runners had succeeded in getting a price range agreed that was acceptable to international investors.Having myriad banks on such a deal contributes human capital. But it’s less clear that it adds much in terms of selling the shares given that there’s probably huge overlap between the banks’ investment fund clients. For a deal of this size, the answer may not have been more of the same, but rather adding alternative structures beyond the equity market: For example, a bond with generous coupons that would be repaid in Aramco stock 10 years hence.Of course, a more focused group of banks for Aramco’s offering would still have run up against an irreconcilable difference between what international investors were willing to pay and what Crown Prince Mohammed bin Salman would accept. But at least that realization would have happened sooner.To contact the author of this story: Chris Hughes at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Bain Capital, CVC Capital Partners and KKR & Co. are among bidders for Hong Kong-based game developer Leyou Technologies Holdings Ltd., according to people familiar with the matter.The buyout firms are selected to participate in the second round of bids, the people said, asking not to be identified because the matter is private. The firms are discussing potential financing options with investment banks, the people said. Leyou also attracted interests from other gaming companies, they said.Leyou said in September that it was holding preliminary talks with potential investors on possible transactions, which may lead to a public takeover. It hired Moelis & Co. as financial adviser. Shares of Leyou closed 0.4% higher on Tuesday, giving it a market value of about HK$8.1 billion ($1 billion). The stock fell as much as 3.8% earlier.Leyou was listed in Hong Kong in 2011 with products including free shooting games Warframe and Dirty Bomb. It’s also working with Amazon.com Inc. to co-produce a video game based on the popular fantasy series “The Lord of the Rings.” Other upcoming games are Civilization online and Transformers.Considerations are still ongoing, no final decision has been made and the companies could still decide against pursuing a transaction, the people said. Representatives for Bain, CVC and KKR declined to comment, while a representative for Leyou didn’t immediately respond to requests for comment.In the latest update on Oct. 16, Leyou said it has received a number of indications of interest from potential investors for the company or a substantial part of its business. These potential investors are conducting due diligence and there’s no agreement made for any transaction, it said.(Updates Leyou’s share price as market closes)To contact the reporters on this story: Manuel Baigorri in Hong Kong at email@example.com;Cathy Chan in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
Moelis (MC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
U.S. prosecutors said on Tuesday they had charged six members of an insider trading ring who worked for firms including Goldman Sachs Group , Moelis and Centerview Partners and allegedly booked tens of millions of dollars in illicit profits. The U.S. Attorney's Office for the Southern District of New York has arrested three members of the international ring and unsealed four separate indictments in recent days.
Moelis & Company , a leading global independent investment bank, will release its third quarter 2019 financial results after the market closes on Wednesday, October 30, 2019.
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...
Investment bank Moelis & Co has hired Barclays' banker and army veteran Will Peters to advise its tech, media and telecoms (TMT) clients as a managing director based in London, a source familiar with the matter told Reuters. Peters spent 15 years at Barclays where rose to become one of their most senior TMT bankers. Peters specialises in fibre and communications infrastructure as well as payments and fintech and has worked on a number of deals involving both equity and debt financing.
Moelis & Company (NYSE:MC) is about to trade ex-dividend in the next 3 days. Investors can purchase shares before the...