Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/daiho-corp" target="_blank" data-smartkarma-citation="entities:19647:1" rel="noopener">Daiho Corp (1822 JP)</a> has announced a deal which is not quite what it looks like. </li>
<li>And despite a buyback of more than 50% of shares outstanding, and an "accretive" sale to another party at a higher price, it is a governance disaster.</li>
<li>And existing shareholders have an out, but it is complicated. If you own the stock, or you look at risk arb, or activism, this may be worth a read.</li>
</ul>



Daiho Corp (1822 JP) has announced a deal which is not quite what it looks like. 
And despite a buyback of more than 50% of shares outstanding, and an "accretive" sale to another party at a higher price, it is a governance disaster.
And existing shareholders have an out, but it is complicated. If you own the stock, or you look at risk arb, or activism, this may be worth a read.


Daiho Corp (1822) A GIANT Transaction Which Is Not What It Looks Like. Smells Bad.

Japan

DAIHO CORPORATION is a general contractor.  The Company builds power plants, dams, harbors, roads, bridges, and railroads.  Daiho also constructs commercial, institutional, and residential buildings.  The Company develops several in-house technologies constructing tunnels and breakwaters.

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Daiho Corp (1822) A GIANT Transaction Which Is Not What It Looks Like. Smells Bad.

The transaction whereby Murakami-san bought a very large number of shares, and coincidentally the shares went up in price, and now he is getting...

Travis Lundy