When companies are drowning in debt and forced to sell assets, unfortunately it's the good ones that attract the attention of potential buyers. That's the case with Steinhoff International and Ascendis Health which, for quite different reasons, find themselves in that very position. Steinhoff's issues are now well documented, from when it was thrown into financial turmoil in December 2017 as it disclosed that its books had been cooked. For Ascendis, it was a debt-fuelled acquisition spree that left it in a tight corner. Steinhoff's shares have rallied this week on rumours of interest in Pepco Group, which released what appear to be good first-quarter sales numbers yesterday. Ascendis updated the market on its first-half performance, with its Remedica subsidiary reporting a strong performance. Remedica is the business that's most likely to fetch a decent price for Ascendis - if it can reach a deal. Sappi's shares also rose yesterday despite a weak first quarter due to ongoing pressure on dissolving wood pulp prices. However, the group reported an improvement in its net asset value, which may have encouraged investors. Also today, Ingham Analytics has trimmed its coverage of the ailing building and construction sector to just three companies, including Raubex, Wilson Bayly Holmes and Afrimat. Since its last note on Raubex in October, the stock has rallied 25%. Click here to get access to its latest research and find out whether it believes there's more to come. Finally, with the 2020 tax year drawing to a close, Anuva Investments ask the question: do your investments save you tax? Anuva manages a diversified portfolio of SMEs and focuses on the concessions that taxpayers get by investing in Section 12J funds. You can follow this link to find out more. I hope you have a profitable day in all ways. Stephen Gunnion Managing Editor, InceConnect |