trending Market Intelligence /marketintelligence/en/news-insights/trending/ei7m9mh93rea7yno3whdgq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Mercantile Investment says takeover offer for Yellow Brick Road is final

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Mercantile Investment says takeover offer for Yellow Brick Road is final

Mercantile Investment Co. Ltd. responded to Yellow Brick Road Holdings Ltd.'s board of directors' rejection of its takeover offer, saying its offer is final and will not be extended beyond Oct. 19.

Mercantile Investment unit Mercantile OFM Pty Ltd. had in August launched an off-market takeover bid to acquire the company shares it does not own in Yellow Brick Road at 9 Australian cents per share, or A$20.3 million in the aggregate. Yellow Brick Road's board on Sept. 3 urged shareholders to reject the offer, saying the offer undervalues the company's shares and does not have any control premium typically paid to shareholders in similar transactions.

Mercantile OFM on Oct. 15 responded to Yellow Brick Road's board's rejection of its offer, warning shareholders of the other company that they "are basically being asked to continue to support a strategy that has so far failed to deliver any returns" to shareholders. Yellow Brick Road has a track record of poor financial performance with years of financial losses. Mercantile OFM said its offer to seek greater influence in Yellow Brick Road's strategy will bring about change.

Mercantile OFM also called into question the directors' view of Yellow Brick Road's equity value as the basis for these estimates are not fully explained. Yellow Brick Road directors believe the company's shares are worth more than 38 Australian cents per share but Mercantile OFM pointed out that the shares are currently trading at 11 cents per share, as of the closing price on Oct. 12.