We have analyzed the
Shanks Group plc pre-deal situation. Shanks stated on 07-Dec-09 that it had
received a highly preliminary and unsolicited approach from a private equity group regarding a potential cash offer of 135p per Shanks share. We have looked at the upside/downside dynamics for the current 130p share price. Given that the PE firm might have difficulties both to have access to high leverage and to generate attractive IRRs for such a transaction, we believe that there is a risk of no...
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