Seeking Alpha

Jordan Flannery

 
View as an RSS Feed
View Jordan Flannery's Comments BY TICKER:
Latest comments  |  Highest rated
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    Thanks for the comment Scooter-Pop. I think this structure will benefit KMI and its shareholders uniquely given the current complicated structure with its varying types of interests in the acquirees. This new structure will not necessarily be replicated by industry peers.

    As for merger potential, the new KMI would be a tough target simply given its size. It will carry an EV of roughly $140 Billion.
    Aug 11 09:14 AM | 3 Likes Like |Link to Comment
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    Thanks for the comment. The new KMI will remain a C-Corporation.
    Aug 12 07:58 AM | 2 Likes Like |Link to Comment
  • Update: North Atlantic Drilling's Agreement With Rosneft Should Not Be Materially Impacted By Latest US Sanctions, But Headline Risk Remains [View article]
    Thanks for the comment Marine Harvest. North Atlantic Drilling noted that the company expects to close the transaction "...during the second half of 2014..." in their May 26th press release detailing the partnership with Rosneft.

    http://bit.ly/1qiiDiv

    Of course, as with any transaction there can be a risk to closing due to a number of factors including the completion of customary due diligence, respective company approvals and a number of other considerations.
    Jul 17 12:23 PM | 2 Likes Like |Link to Comment
  • Update: Lorillard Shareholders May Be Disappointed By Acquisition Price, But Consideration Will Likely Be Final [View article]
    That makes sense; shares of Lorillard weakened significantly as the trading session progressed today and while this deal may take longer than usual to complete due to the regulatory hurdles, it may be an interesting play for arbitrageurs. Even with the decline in shares of Reynolds American today, the deal is still valued at $67.62 as of today's market close. Lorillard closed at $60.17, so this 11% discount could create a nice merger arbitrage opportunity should the deal close in a timely manner.
    Jul 15 04:23 PM | 2 Likes Like |Link to Comment
  • Update: Lorillard Shareholders May Be Disappointed By Acquisition Price, But Consideration Will Likely Be Final [View article]
    Thanks for the comment, Reynolds American has noted that the company expects both the Lorillard and Imperial Tobacco transactions to "close in the first half of 2015".

    http://bit.ly/1tfbFYY
    Jul 18 04:20 PM | 1 Like Like |Link to Comment
  • Stocks To Watch: Yahoo, BlackBerry, Lorillard... [View article]
    Thanks for the comment. While there are certainly risks relating to regulatory approval and shareholder disapproval, the deal is setting up as a rather large merger arbitrage opportunity. As arbitrageurs build up positions in Lorillard, they could represent a rather large shareholder base incentivized to vote their shares in favor of the deal. Lorillard is trading for a 10.9% discount to the acquisition price, adjusted to today's closing prices. Leveraged arbitrageurs may view the diminishment of this discrepancy over a 9-12 month period as an opportunity despite the risks present.

    While the announcement of the deal caused Lorillard's share price to decline, in any shareholder lawsuit in relation to this, the company could simply argue that the deal premium was added to the stock price over a four or five month period as merger rumors ran rampant and that shareholders are receiving a fair price for the company.

    If for whatever reason the deal does not go through, Lorillard remains a fairly valued company trading at 17.5x 2015 earnings estimates offering a 4.1% dividend yield, so downside should be somewhat limited.
    Jul 16 04:22 PM | 1 Like Like |Link to Comment
  • EDP Energias De Portugal Looks Attractive After Portuguese Market Correction [View article]
    Thanks for the comment. The issue of currency fluctuation is always a consideration for an investment in a foreign company. It is widely though that the Fed will end its expansionary policy before other major central banks, including the ECB which appears to be somewhat reflected in the current forex rate. The Euro itself has some tailwinds as country-specific fiscal conditions continue to improve and these nations can attract additional capital from non-Eurozone areas due to decreased risk.

    As for EDP's debt maturities, the company outlines their outstanding debt on the "Bond Issues" subsection on the "Funding" part of its investor relations page. (link below)
    http://bit.ly/1oRfdQ5

    EDP has maturities ranging from early next year out until 2021 and enjoy rather low costs of borrowing. Additionally, the company has a strong level of liquidity through the company's cash and equivalents and a revolving credit facility.
    Jul 12 01:00 PM | 1 Like Like |Link to Comment
  • BankGuam: A Closely Held Regional Bank Yielding 5% Set To Benefit From Rising Interest Rates [View article]
    Thanks for the comment. As I said in response to realitytrader's comment, the real upside for BankGuam will come when interest rates rise and the company is able to meaningfully expand its NIM. The liquidity in the stock could make it difficult to build large positions and orders may take longer than usual to fill.
    Jul 12 12:18 PM | 1 Like Like |Link to Comment
  • Genel Energy: The Best In Class Kurdistan-Focused Oil Producer [View article]
    Nice write-up, thanks for the article.
    Aug 20 02:08 PM | Likes Like |Link to Comment
  • Bagger Dave's Is Still Appealing With Growing Original Concept And Strong Buffalo Wild Wings Franchise Cash Flow [View article]
    Interesting idea, thanks for the article.
    Aug 17 11:51 AM | Likes Like |Link to Comment
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    Thanks for the comment. There are a few cases where this merged KMI structure could be specifically beneficial when replicated. It makes more sense where there are a number of different entities with mixed LP and GP interests than with a traditional MLP structure.
    Aug 12 08:08 AM | Likes Like |Link to Comment
  • Update: North Atlantic Drilling's Agreement With Rosneft Should Not Be Materially Impacted By Latest US Sanctions, But Headline Risk Remains [View article]
    Thanks for the comments adecinvestor and Chancer. Specifically relating to the headline risk for North Atlantic Drilling, news regarding deteriorating US-Russian relations could impact shares and create a perceived risk for investing in a company that deals with Rosneft, one of Russia's most significant corporations. The perception of risk could hurt shares of North Atlantic Drilling even if there is no tangible escalation of risk to the deal and partnership.
    Jul 17 12:35 PM | Likes Like |Link to Comment
  • Update: Lorillard Shareholders May Be Disappointed By Acquisition Price, But Consideration Will Likely Be Final [View article]
    Correct, but the deal should be discounted by some amount due to the regulatory risk and the time value of money especially as this deal could take an extended period of time to complete. However, 11% does seem steep.
    Jul 15 04:54 PM | Likes Like |Link to Comment
  • Update: Lorillard Shareholders May Be Disappointed By Acquisition Price, But Consideration Will Likely Be Final [View article]
    Thanks for the comment, I'm sure that there are a number of shareholders who share your opinion.
    Jul 15 04:16 PM | Likes Like |Link to Comment
  • JLM Couture: Will This Bridal House's Fortunes Ever Turn Up? [View article]
    Agreed, it will be interesting to see how the company performs over the next few quarters. My concern lies mainly with the lack of visible near to medium term catalysts to unlock value.
    Jul 14 05:42 PM | Likes Like |Link to Comment
COMMENTS STATS
30 Comments
13 Likes