Introduction
This month’s Opportunity Report features a company whose value is predominantly composed of assets that are household names. It has long traded at a steep discount to the value of its individual assets, owing to the complexity of the business, as well as ownership of certain poorly performing assets. This holding company has been in a state of constant change over many years, though, and is now at its healthiest position in half a decade. It is in the midst of a headline-grabbing bid to take private an iconic leisure & entertainment company—a catalyst that may finally tamp down one of the market’s most stubborn discounts.