Offshore
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Umesh
A view to dream by!
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Image : Midjourney, nano-banana
Music : ElevenLabs
Video : @Kling_ai keyframes
Prompt for the first image ⤵️ https://t.co/X0A3QjVFh6
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A view to dream by!
Tools used :
Image : Midjourney, nano-banana
Music : ElevenLabs
Video : @Kling_ai keyframes
Prompt for the first image ⤵️ https://t.co/X0A3QjVFh6
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Offshore
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soken
RT @therapeuticvids: When your parents leave you incharge of your siblings at a family gathering. https://t.co/NwJc9xI90s
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RT @therapeuticvids: When your parents leave you incharge of your siblings at a family gathering. https://t.co/NwJc9xI90s
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Offshore
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soken
my salary as soon as i get paid dissapear in crypto
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my salary as soon as i get paid dissapear in crypto
Reporter left speechless after witnessing Japan's new $70 million Maglev train in action at 310 mph https://t.co/qSvSAl6nXm tweet
Offshore
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Aadit Sheth
RT @aaditsh: This guy literally shows how the best in the world think and work https://t.co/XGsZIoIruE
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RT @aaditsh: This guy literally shows how the best in the world think and work https://t.co/XGsZIoIruE
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Dalius - Special Sits
Great news for $TIXT stakeholders. The offer was bumped by 30% yesterday from $3.4 to $4.5/share and about 24% since my post.
TIXT will be acquired at 6.5x EBITDA, which still feels somewhat low, but the increase should satisfy shareholders.
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Great news for $TIXT stakeholders. The offer was bumped by 30% yesterday from $3.4 to $4.5/share and about 24% since my post.
TIXT will be acquired at 6.5x EBITDA, which still feels somewhat low, but the increase should satisfy shareholders.
Buyout of $TIXT by its parent $TU looks interesting. Lowball initial offer could be bumped after the special commitee review ends.
The largest shareholder of TIXT, a BPO and IT services business, is TELUS Corp, a $24bn Canadian telecom giant holding a 60% stake. TELUS has submitted a lowball offer to acquire the remaining shares at $3.40/share. The stock is currently trading above the bid at $3.65. The board has promptly formed a special committee to review the transaction.
There are a few things to like about this setup. The buyer is a highly credible and well-financed Canadian telecom player with a $24bn market cap.
TIXT stock trades quite cheaply at 5.7x 2025e EBITDA with solid FCF conversion. Given its 60% ownership, TELUS can acquire the remaining equity using less than two years of the company’s run-rate FCF. The company is indeed levered, but current cashflow generation seems sufficient to sustain operations for the foreseeable future.
This is a BPO and consulting business, and the industry is clearly in disarray right now due to AI’s impact on future operations. Consulting makes up 50% of the business, so the more affected part here is the BPO segment—which likely won’t fall off a cliff in the next couple of years. In the meantime, there’s plenty of FCF to be milked from the subs.
It’s hard to pin down a fair multiple, but one could justify a 7–8x bid, somewhere between consulting and pure BPO public comps. At 7x, there’s about 40% upside from current levels versus 5–7% downside if the special committee simply accepts TU’s current bid. Downside to pre-announcement levels is around 17% in case the offer is fully rejected and the buyer walks, which seems less likely.
Has anyone else looked into this? Curious to hear your thoughts. tweet
X (formerly Twitter)
Dalius - Special Sits (@InvestSpecial) on X
Buyout of $TIXT by its parent $TU looks interesting. Lowball initial offer could be bumped after the special commitee review ends.
The largest shareholder of TIXT, a BPO and IT services business, is TELUS Corp, a $24bn Canadian telecom giant holding a 60%…
The largest shareholder of TIXT, a BPO and IT services business, is TELUS Corp, a $24bn Canadian telecom giant holding a 60%…
Offshore
Video
Aadit Sheth
RT @neatprompts: This guy literally dropped the best visual guide to LLMs you’ll ever see
https://t.co/fT8bfrsxkA
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RT @neatprompts: This guy literally dropped the best visual guide to LLMs you’ll ever see
https://t.co/fT8bfrsxkA
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