Since Six formally presented its offer by BME on December 26, the Spanish legislator has 60 days (extendable) to decide whether or not the green light is given to the operation, without counting, yes, with a possible counterpart.
In the absence of knowing the position of the regulator, the market is beginning to discount that there will be no other offer by the Spanish stock exchange manager and that the 33.4 euros that the Swiss group has put on the table will be the final ones.
This is how analysts see it Jefferies, which have begun to follow BME and they have valued it precisely at this price since they see “unlikely” that there is a counterpart of Euronext.
On the stock exchange, BME securities have moved in a very narrow price range since the offer and are currently in the environment of 34.8 euros, a 4% above that level.
However, the average consensus of analysts that collects Bloomberg it places it almost a 12% below their current levels, in the 30 euros per action
Maintain Recommendation
More than half of the analysts who follow the company recommend keeping their securities in the portfolio, just as Ecotrader experts do. “The normal thing is that you stay in this price environment while consuming time,” says Carlos Almarza, technical analyst at the investment portal.
“It will not take off much from this area and as long as it quotes above the price of the bid, the market will not rule out that there may be even another higher offer,” Almarza adds.
How much do you know about the action in which you invest ?:
The Government has been on the table for 15 days the opa of Six on BME