Vallourec Possible Target for Tenaris, NSSMC: Macquarie(Earlier)
2015-03-02 18:26:00.495 GMT
By Joshua Fineman
(Bloomberg) -- Vallourec may be potential takeover target
for Tenaris or Nippon Steel as its shrs touch near 10-yr lows,
Macquarie analyst Giacomo Romeo wrote in note earlier.
* One possible scenario may be Tenaris buying Vallourec with
subsequent sale of Vallourec’s NA assets to Nippon Steel to
avoid antitrust issues; see potential 40% premium (EU 29.70)
being paid for Vallourec
* Second scenario would be for Nippon Steel to purchase
Vallourec; would be a “simple” deal between two cos. that
are already partners in NA, Brazil; would also see a 40%
control premium
* NOTE: No indication any of the cos. actually considering
potential deals
* NOTE: No indication any of the cos. actually considering
potential deals</li></ul>
* Vallourec remains outperform at Macquarie; Tenaris neutral;
Nippon Steel neutral
* NOTE: Feb. 9, Vallourec May Be Vulnerable to M&A Approach,
Credit Suisse Says
For Related News and Information:
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To contact the reporter on this story:
Joshua Fineman in New York at +1-212-617-8953 or
jfineman@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
2015-03-02 18:26:00.495 GMT
By Joshua Fineman
(Bloomberg) -- Vallourec may be potential takeover target
for Tenaris or Nippon Steel as its shrs touch near 10-yr lows,
Macquarie analyst Giacomo Romeo wrote in note earlier.
* One possible scenario may be Tenaris buying Vallourec with
subsequent sale of Vallourec’s NA assets to Nippon Steel to
avoid antitrust issues; see potential 40% premium (EU 29.70)
being paid for Vallourec
* Second scenario would be for Nippon Steel to purchase
Vallourec; would be a “simple” deal between two cos. that
are already partners in NA, Brazil; would also see a 40%
control premium
* NOTE: No indication any of the cos. actually considering
potential deals
* NOTE: No indication any of the cos. actually considering
potential deals</li></ul>
* Vallourec remains outperform at Macquarie; Tenaris neutral;
Nippon Steel neutral
* NOTE: Feb. 9, Vallourec May Be Vulnerable to M&A Approach,
Credit Suisse Says
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Joshua Fineman in New York at +1-212-617-8953 or
jfineman@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net