Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Dynac Holdings Corporation / Event-Driven

After the close on 10th February 2021, Japanese restaurant chain operator <a href="https://www.smartkarma.com/entities/dynac-corp" target="_blank" data-smartkarma-citation="entities:17888:1" rel="noopener">Dynac Corp (2675 JP)</a> announced (<a href="https://www.dynac.co.jp/cms/wp-content/uploads/2021/02/%E6%94%AF%E9%85%8D%E6%A0%AA%E4%B8%BB%E3%81%A7%E3%81%82%E3%82%8BSHD%E6%A0%AA%E5%BC%8F%E4%BC%9A%E7%A4%BE%E3%81%AB%E3%82%88%E3%82%8B%E5%BD%93%E7%A4%BE%E6%A0%AA%E5%BC%8F%E3%81%AB%E5%AF%BE%E3%81%99%E3%82%8B%E5%85%AC%E9%96%8B%E8%B2%B7%E4%BB%98%E3%81%91%E3%81%AB%E9%96%A2%E3%81%99%E3%82%8B%E8%B3%9B%E5%90%8C%E3%81%AE%E6%84%8F%E8%A6%8B%E8%A1%A8%E6%98%8E%E5%8F%8A%E3%81%B3%E5%BF%9C%E5%8B%9F%E6%8E%A8%E5%A5%A8%E3%81%AE%E3%81%8A%E7%9F%A5%E3%82%89%E3%81%9B.pdf" target="_blank" rel="noopener">J-only</a>) they have received a Tender Offer from top shareholder Suntory Holdings Limited. The Offer Price is ¥1,300/share in cash and the Tender Offer Period will be open from 12th February 2021 to 24th April 2021.Dynac operates and manages multi-business restaurants primarily in Japan under the brand names "Hibiki”, “Uomori”, and “Toridori.” They currently have 249 outlets which are located in places like theaters, music halls, golf courses, ski resorts, roadside stations, and service areas. Furthermore, they also organize events and provide catering services. In this insight, we take a look at the fairness of the Offer and the likelihood of Deal completion.

After the close on 10th February 2021, Japanese restaurant chain operator Dynac Corp (2675 JP) announced (J-only) they have received a Tender Offer from top shareholder Suntory Holdings Limited. The Offer Price is ¥1,300/share in cash and the Tender Offer Period will be open from 12th February 2021 to 24th April 2021.Dynac operates and manages multi-business restaurants primarily in Japan under the brand names "Hibiki”, “Uomori”, and “Toridori.” They currently have 249 outlets which are located in places like theaters, music halls, golf courses, ski resorts, roadside stations, and service areas. Furthermore, they also organize events and provide catering services. In this insight, we take a look at the fairness of the Offer and the likelihood of Deal completion. 

Dynac Corp (2675 JP) Tender Offer: Looks like a Done Deal

Japan

Dynac Holdings Corporation operates Japanese restaurants and Italian pub restaurants in Kanto and Kansai regions.  The Company operates restaurants in golf clubs. DYNAC also provides catering services for wedding receptions and special events.

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Dynac Holdings Corporation (2675 JP)

Dynac Corp (2675 JP) Tender Offer: Looks like a Done Deal

Suntory - the 61% owner of troubled multi-brand restaurant co Dynac (2675) is going to take it private. Not a big premium, but the company has...

Janaghan Jeyakumar, CFA

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