Added to YB: 2023-10-31
Pitch date: 2023-10-31
ASCL.L [bullish]
Ascential plc
Author Info
Clark Square Capital is a former equity analyst and now a full-time investor managing their own capital. Sign up for their newsletter
Company Info
Ascential plc provides specialist information, analytics, and e-commerce optimization platforms in the United Kingdom, rest of Europe, the United States, Canada, China, rest of the Asia Pacific, the Middle East, Africa, and Latin America.
Market Cap
GBP 736.0M
Pitch Price
N/A
Price Target
360.00
Dividend
N/A
EV/EBITDA
17.31
P/E
238.25
EV/Sales
5.49
Sector
Media
Category
special_situation
Three-minute pitch #5
ASCL.L (new position): Long at 266p. UK conglomerate selling 2 divisions (WGSN to Apax, digital commerce to Omnicom) for GBP1.21bn, paying 191p/share special dividend. Remainco = Cannes Lions + Money20/20 events (GBP72m EBITDA) at ~5x vs comps 9-11x. SOTP ~360p (35%+ upside, 100%+ ex-div) plus Hudson MX optionality (~15p+). Downside protected ~5%. Likely PE/strategic takeout. Vote Dec, close Q1'24.
Read full article (4 min)