Soul Patts' Merger Brings Simplification Benefits -- Market Talk

Dow Jones

Jun 05, 2025

0349 GMT - The simplified corporate structure created by the merger of Washington H. Soul Pattinson and Brickworks is seen as a net positive at Australian brokerage Morgans. Analyst Steven Sassine highlights the benefits of unpicking the companies' longstanding cross-holdings in each other. The melding of the investment manager and building-products maker further diversifies Soul Patts' portfolio and is likely to increase liquidity and the proportion of shares held by public investors. The latter is important for indexed and institutional funds, he reminds clients in a note. Morgans lifts its target price on Soul Patts by 15% to A$43.15 and keeps a hold rating on the stock, which is down 3.5% at A$39.95. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 04, 2025 23:49 ET (03:49 GMT)

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Soul Pattinson and Brickworks is seen as a net positive at Australian brokerage Morgans. Analyst Steven Sassine highlights the benefits of unpicking the companies' longstanding cross-holdings in each other. The melding of the investment manager and building-products maker further diversifies Soul Patts' portfolio and is likely to increase liquidity and the proportion of shares held by public investors. The latter is important for indexed and institutional funds, he reminds clients in a note. Morgans lifts its target price on Soul Patts by 15% to A$43.15 and keeps a hold rating on the stock, which is down 3.5% at A$39.95. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 04, 2025 23:49 ET (03:49 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soul Patts' Merger Brings Simplification Benefits -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoul Patts' Merger Brings Simplification Benefits -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-06-05 11:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0349 GMT - The simplified corporate structure created by the merger of Washington H. Soul Pattinson and Brickworks is seen as a net positive at Australian brokerage Morgans. Analyst Steven Sassine highlights the benefits of unpicking the companies' longstanding cross-holdings in each other. The melding of the investment manager and building-products maker further diversifies Soul Patts' portfolio and is likely to increase liquidity and the proportion of shares held by public investors. The latter is important for indexed and institutional funds, he reminds clients in a note. Morgans lifts its target price on Soul Patts by 15% to A$43.15 and keeps a hold rating on the stock, which is down 3.5% at A$39.95. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 04, 2025 23:49 ET (03:49 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SOL.AU","symbol_name":"WASHINGTON H. 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The melding of the investment manager and building-products maker further diversifies Soul Patts' portfolio and is likely to increase liquidity and the proportion of shares held by public investors. The latter is important for indexed and institutional funds, he reminds clients in a note. Morgans lifts its target price on Soul Patts by 15% to A$43.15 and keeps a hold rating on the stock, which is down 3.5% at A$39.95. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SOL.AU":"WASHINGTON H. SOUL PATTINSON","BK7105":"多领域控股","BK7083":"煤与消费用燃料","BKW.AU":"BRICKWORKS LIMITED","BK7044":"建筑材料"},"translate_title":"Soul Patts合并带来简化好处——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOL.AU":0.9,"BKW.AU":0.9},"content_text":"0349 GMT - The simplified corporate structure created by the merger of Washington H. Soul Pattinson and Brickworks is seen as a net positive at Australian brokerage Morgans. Analyst Steven Sassine highlights the benefits of unpicking the companies' longstanding cross-holdings in each other. The melding of the investment manager and building-products maker further diversifies Soul Patts' portfolio and is likely to increase liquidity and the proportion of shares held by public investors. The latter is important for indexed and institutional funds, he reminds clients in a note. Morgans lifts its target price on Soul Patts by 15% to A$43.15 and keeps a hold rating on the stock, which is down 3.5% at A$39.95. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 04, 2025 23:49 ET (03:49 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}