Evaluates tender offer structures and models proration risks to optimize event-driven investment decisions.
This skill provides a rigorous framework for analyzing tender offers, including self-tenders, third-party acquisitions, and Dutch auctions. It enables users to quantify gross spreads, model complex proration scenarios for oversubscribed offers, and evaluate the economic trade-offs of conditional versus unconditional tender strategies. By incorporating undisturbed price data, ownership structures, and regulatory timelines, the skill helps investment professionals and legal analysts calculate probability-weighted expected values and identify risks in special situations and activist investing scenarios.
主要功能
01Gross spread and annualized return calculations
02Conditional tender vs. odd-lot exemption analysis
03Proration factor modeling and sensitivity matrix generation
042 GitHub stars
05Probability-weighted scenario and expected-value (EV) summaries
06Two-tier and squeeze-out economic modeling
使用场景
01Modeling potential proration outcomes in a partial self-tender offer
02Calculating the annualized spread and deal-break risk for an activist-led offer
03Assessing the economic impact of appraisal rights versus tendering in a two-tier merger
