Reliance Retail to acquire retail, wholesale, logistics & warehousing businesses of Future Group for Rs 24,713 cr
FUTURE GROUP - RELIANCE DEALAppears Win-Win Future Gets a BuyerReliance Gets an asset to growBanks don't have to take a big haircut Only concern: Will other listed players feel the competitive heat? Both in the Markets and the Market Place? Future Merger Ratio +ve for other listed entities Swap ValuesFuture Cons at 18 vs CMP of 11.5 (+57%)Future Retail at 202 vs CMP of 135.2 (+49%)Future Life at 232 vs CMP of 145 (+60%)Future Supply at 262 vs CMP of 151 (+74%)Future Mkt Network at 36 vs CMP of 27 (+35%) Reliance - Future DealAssuming the value of Future Ent as 17.65 based on Pref Allotment Price for Reliance vs CMP 20.2 Swap ValuesFut Cons at 16 (+38.4% prm)Fut Retail at 178 (+31.8% prm)Fut Life at 205 (+41.1% prm)Fut Supply…