Research & analysis.

The project asks whether the strategic value of combining OCS and Mitie justifies the headline takeover premium and whether the enlarged group can support the financing required to execute the transaction.

It examines transaction structure, Mitie's standalone quality, strategic fit, the sponsor-backed financing package, illustrative synergy cases, leverage and deleveraging, before reaching an independent judgement on whether the price is defensible.

The research evaluates ITC as a diversified Indian consumer business, combining fundamental company analysis with a five-year FCFF DCF, segment-based SOTP valuation and a forward P/E cross-check.

An accompanying regression explores ITC monthly returns alongside RBI repo-rate changes and NIFTY returns, with the econometric results treated as exploratory rather than causal.

The project asks whether Thames Water's proposed recapitalisation can reduce leverage enough to restore financial resilience while allocating losses credibly across its capital structure.

It reconstructs the restructuring through the creditor hierarchy, new-money requirements, recovery waterfall, gearing bridge and AMP8 funding challenge, distinguishing publicly disclosed transaction terms from illustrative modelling assumptions.