TEN - Tenneco: Merger Moving Forward Creating Near-Term +25% Upside
- Tenneco Inc. agreed to be acquired by Apollo Global Management for $20/sh in cash.
- While the ballooning spread between Tenneco's buyout and market price indicates this deal is in trouble, a review of the transaction suggests otherwise.
- Additionally, Apollo is getting Tenneco at a very attractive EV/EBITDA multiple, so it's unlikely they will baulk at the transaction.
- Therefore, Tenneco's current market price presents an opportunity for investors to make a spectacular +25% return in less than 6 months.
For further details see:
Tenneco: Merger Moving Forward, Creating Near-Term +25% Upside