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Worthington Steel - US restructuring opportunity
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i4value
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20-May-2023 08:16
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It is not often that you come across an opportunity to benefit from a corporate restructuring in Malaysia or Singapore. That is why I keep a look out for such activities in the US. Worthington Industries is a US steel company with 3 business segments - steel and pressure cylinders. The company has proposed to split itself into 2 listed companies - one for steel (tenatively called Worthington Steel) and the other for the balance (New Worthington). I did a sum of part valuation and found that it is greater than the current market price as summarized below.  If you want a bit more background on the company refer to WOR is still one of the better NYSE stocks |
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