Well, Ramsay are really in the M&A spotlight. This time, they are the target.
We’ve written a lot about RHC, which we often do when a bet hasn’t been working, and we are (on this blog as much as anything) thinking out aloud about the position, including here, here, and here, although at least 2 of those veer off into a more general discussion of stockpicking.
We also tweet, when we are keen to get some market interaction about our thoughts. There’s nothing like sharing a view on the internet, to get some views in return.
We’d rounded out our thoughts with this last bit. Given the nature of due diligence, KKR would likely have been running the ruler over Ramsay by this point.
We’ve had some good fortune, with corporate activity, across our portfolios of late. Over the past year prior holdings of Iress, Spark Infrastructure, Altium, Crown, Cimic (in our concentrated portfolios) Pendal (also in our concentrated portfolio) and now Ramsay (in both) have come under some kind of M&A related activity.
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