·Source: SouqData proprietary analysis
What this page covers
Analytical model scoring GCC companies on M&A target probability. 8-factor framework: valuation discount, ownership dispersion, size, governance, insider signals, sector activity, asset richness, and performance.
SouqData covers 11 GCC + MENA exchanges (TDWL, DFM, ADX, QSE, BK, MSX, BHB, ASE, BIST, ISX, EGX). Coverage depth varies by exchange and data category — gaps are surfaced in the page's data displays rather than hidden. Underlying data refreshes daily via an automated pipeline; per-exchange ingestion runs on filing-driven cadences.
Takeover Probability Model
An analytical model scoring GCC companies on M&A target characteristics. Higher scores indicate more factors commonly associated with acquisition targets. This is a quantitative screening tool based on publicly available data — not a prediction or recommendation.
Companies Scored
1,973
Avg Score
22
Top Score
73
Most Vulnerable Sector
Industrials
avg 28
Top M&A Target Candidates
| # | Company | Exchange | Sector | Score | Grade | Key Factors |
|---|---|---|---|---|---|---|
| 1 |  2110 Saudi Cable Co. | TDWL | Industrials | 73 | A | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 2 |  1301 United Wire Factories Co. | TDWL | Industrials | 70 | A | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 3 |  4141 Al-Omran Industrial & Trading Co. | TDWL | Industrials | 70 | A | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 4 |  4040 Saudi Public Transport Co. | TDWL | Industrials | 70 | A | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 5 |  2360 Saudi Vitrified Clay Pipes Co. | TDWL | Industrials | 70 | A | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 6 |  2370 Middle East Specialized Cables Co. | TDWL | Industrials | 70 | A | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 7 |  4110 Batic Investments and Logistics Co. | TDWL | Industrials | 67 | B | Valuation Discount 15/15Acquirable Size 15/15Sector M&A Activity 10/10 |
| 8 |  4148 Alwasail Industrial Company | TDWL | Industrials | 67 | B | Valuation Discount 15/15Acquirable Size 15/15Sector M&A Activity 10/10 |
| 9 |  2120 Saudi Advanced Industries Co. | TDWL | Financials | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 10 |  4012 Thob Al-Aseel Co. | TDWL | Consumer Staples | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 11 |  4061 Anaam International Holding Group | TDWL | Consumer Staples | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 12 |  4170 Tourism Enterprise Co. | TDWL | Consumer Discretionary | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 13 |  2160 Saudi Arabian Amiantit Co. | TDWL | Materials | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 14 |  4082 Morabaha Marina Financing Company | TDWL | Financials | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 15 |  1832 Sadr Logistics Co. | TDWL | Industrials | 66 | B | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 16 |  2210 Nama Chemicals | TDWL | Materials | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 17 |  6060 Ash-Sharqiyah Development Co. | TDWL | Materials | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 18 |  2130 Saudi Industrial Development Co. | TDWL | Consumer Discretionary | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 19 |  6040 Tabuk Agricultural Development Co. | TDWL | Consumer Staples | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 20 |  6013 Development Works Food Co. | TDWL | Consumer Discretionary | 66 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 21 |  6012 Raydan Food Co. | TDWL | Consumer Discretionary | 63 | B | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 22 |  4140 Saudi Industrial Export Co. | TDWL | Consumer Staples | 63 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 23 |  4191 Abdullah Saad Mohammed Abo Moati for Bookstores Co. | TDWL | Consumer Discretionary | 63 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 24 |  9532 Al-Jouf Healthy Water Bottling Company | TDWL | Consumer Staples | 63 | B | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 25 |  2140 AYYAN Investment Company | TDWL | Industrials | 63 | B | Valuation Discount 15/15Acquirable Size 15/15Sector M&A Activity 10/10 |
| 26 |  2288 Nofoth Food Products Co | TDWL | Consumer Staples | 63 | B | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 27 |  2030 Saudi Arabia Refineries Co. | TDWL | Financials | 63 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
| 28 |  4324 Banan Real Estate Company | TDWL | Financials | 63 | B | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 29 |  4011 Lazurde Company for Jewelry | TDWL | Consumer Discretionary | 63 | B | Valuation Discount 15/15Acquirable Size 15/15Weak Governance 10/10 |
| 30 |  4051 Baazeem Trading Co. | TDWL | Consumer Staples | 63 | B | Valuation Discount 15/15Ownership Dispersion 15/15Acquirable Size 15/15 |
By Exchange
TDWL
39
avg (385 cos)
QSE
28
avg (55 cos)
BK
24
avg (136 cos)
ASE
21
avg (205 cos)
DFM
21
avg (70 cos)
EGX
19
avg (252 cos)
ADX
17
avg (98 cos)
BIST
16
avg (568 cos)
BHB
10
avg (17 cos)
MSX
9
avg (85 cos)
ISX
7
avg (102 cos)
By Sector
Industrials
28
271 cos
Banks
25
1 cos
Consumer Staples
24
183 cos
Non-Energy Minerals
24
2 cos
Consumer Discretionary
23
173 cos
Health Care
23
59 cos
Materials
22
300 cos
Information Technology
22
73 cos
Unknown
22
153 cos
Methodology
8-Factor Model (0-100):
- Valuation Discount (15): Low P/B vs sector median. Below book value = highest score.
- Ownership Dispersion (15): Dispersed ownership (low top-holder %) makes acquisition easier.
- Acquirable Size (15): Small/mid cap companies more likely targets. Below $500M = high.
- Weak Governance (10): Low governance scores indicate vulnerable boards.
- Insider Selling (10): Net insider selling may signal insider pessimism.
- Sector M&A Activity (10): Banking, telecom, real estate see more GCC M&A.
- Asset-Rich Balance Sheet (15): High asset-to-market-cap ratio = attractive asset base.
- Underperformance (10): Trading below book value indicates market undervaluation.
This is an analytical screening model, not investment advice. High scores indicate characteristics commonly associated with acquisition targets based on academic research. Our model suggests probabilities — it does not predict outcomes. Many high-scoring companies may never receive acquisition offers. Always conduct independent due diligence.
This analysis is based on available data and disclosed methodology. Our models estimate outcomes using specific inputs and assumptions — the methodology is described on this page. Observations may not account for all relevant factors. This content is provided for educational and informational purposes only.
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