Ancora Releases Amcor Nvestment Thesis Presented At The Annual Bloomberg Activism Forum; Says "Combination Of Amcor And Berry Global Creates A Compelling Investment Opportunity, With 50%-70% In Potential Upside As Synergies Are Realized And Valuation...
Ancora Releases Amcor Nvestment Thesis Presented At The Annual Bloomberg Activism Forum; Says "Combination Of Amcor And Berry Global Creates A Compelling Investment Opportunity, With 50%-70% In Potential Upside As Synergies Are Realized And Valuation...
Ancora Releases Amcor Nvestment Thesis Presented At The Annual Bloomberg Activism Forum; Says "Combination Of Amcor And Berry Global Creates A Compelling Investment Opportunity, With 50%-70% In Potential Upside As Synergies Are Realized And Valuation Re-Rates"
Ancora發佈了在年度彭博激進主義論壇上提出的Amcor投資論點；表示「Amcor與Berry Global的結合創造了一個引人注目的投資機會，隨着協同效應的實現和估值的重新定價，有50%-70%的潛在上升空間。」
Combination of Amcor and Berry Global Creates a Compelling Investment Opportunity, With 50%-70% in Potential Upside as Synergies are Realized and Valuation Re-Rates
Amcor與Berry Global的結合創造了一個引人注目的投資機會，隨着協同效應的實現和估值的重新定價，有50%-70%的潛在上升空間。
Ancora Holdings Group LLC (collectively with its affiliates, "Ancora") today released its positive investment thesis on Amcor plc (NYSE:AMCR, ASX: AMC))) ("Amcor") that was presented at the Bloomberg Activism Forum by James Chadwick, President of Ancora Alternatives LLC. This follows Amcor's recently announced merger with Berry Global Group, Inc. (NYSE:BERY) ("Berry"), which the companies expect to close in the middle of next year.1 The presentation can be accessed here.
Ancora Holdings Group LLC（與其附屬公司統稱爲「Ancora」）今天發佈了對Amcor plc（紐交所代碼：AMCR，澳交所代碼：AMC）的積極投資論點，該論點由Ancora Alternatives LLC的總裁James Chadwick在彭博激進主義論壇上發表。這是繼Amcor最近宣佈與Berry Global Group, Inc.（紐交所代碼：BERY）合併後所作的，該公司預計將在明年中期完成交易。演示文稿可以在此處訪問。
Key points from the presentation:2
演示文稿中的關鍵要點：
- The combined entity stands to be a premium packaging company with a durable free cash flow profile and a conservatively estimated $650 million in synergies, at what we believe is a significantly discounted valuation.
- The combination creates a compelling investment opportunity with 50% to 70% upside, underpinned by Ancora's strong conviction that the announced synergies are conservative.
- On a proforma basis, Ancora estimates the combined entity's EBITDA could be $4.5 billion and its shares could rise from ~$10 today to ~$16 in the coming years.
- 合併後的實體將成爲一家高端包裝公司，具有持久的自由現金流特徵，估計協同效應爲65000萬美元，而我們相信這一估值顯著低估。
- 這一組合創造了一個令人信服的投資機會，潛在上漲幅度爲50%到70%，基於Ancora堅定的信念，即宣佈的協同效應是保守的。
- 在臨時基礎上，Ancora預計合併後的實體的EBITDA可能達到45億，其股價可能從今天約10美元上漲到未來幾年約16美元。
