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  5. DRX: Nippon steel buying u. [ADF Group Inc. Subordinate Voting Shares]
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Q: Nippon steel buying u.s. steel $14.9 bln , $55, at a 40% premium to dec 15 close, would you expect a rise in the stock prices of astl and drx.
many thanks
Asked by howard on December 18, 2023
5i Research Answer:

Yes; ASTL has hit a new high with this news, and DRX is very close. The X takeover valuation is about 3 P/E points higher than ASTL and 5 higher than DRX's current valuation. 

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