Tsuruha-Welcia: Will Scale Translate into Profit?
​Tsuruha-Welcia merger aims for ¥50 billion in savings through procurement, private brands, and stores, but faces challenges in weak food...
404 Views
Tsuruha (3391 JP): Aeon (8267 JP) Bumps Its Partial Tender Offer to JPY2,900
A good result for minorities, as the offer has been bumped from JPY2,280 to JPY2,900. The offer is modestly below the JPY3,100 price Aeon paid in...
521 Views
[Japan M&A] Possible Partial TSURUHA (3391 JP) Tender Changes - More Accretion! Smaller Tender?
Tsuruha announced 5+% of shares asked for appraisal rights. That means a 5+% buyback at price TBD. It might be at the Tender Price. Technicals are...
547 Views
Tsuruha (3391 JP)/Welcia (3141 JP): Index Promotion & Passive Flows Likely Priced In
Passives trade Tsuruha and Welcia at the close today. Net flat across TOPIX and FGlobal but there is a fair bit to buy from MGlobal trackers. Both...
1.3k Views
Merger Arb Mondays (24 Nov) - ANE, Dongfeng, ENN, Jinke, Shengmu, AUB, Digital Hldgs, Pacific Ind
I summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan,...
484 Views