Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Jardine Lloyd Thompson Group PLC / Event-Driven

<a href="https://www.smartkarma.com/entities/22017" target="_blank" data-smartkarma-citation="entities:22017:1">Jardine Lloyd Thompson Group P (JLT LN)</a> has received an <a href="http://infopub.sgx.com/FileOpen/JMH.ashx?App=Announcement&amp;amp;FileID=525409" target="_blank">offer</a> from <a href="https://www.smartkarma.com/entities/15690" target="_blank" data-smartkarma-citation="entities:15690:1">Marsh &amp; Mclennan Cos (MMC US)</a>, by way of a scheme, at £19.15/share, a 33.7% premium to last close. 
<a href="https://www.smartkarma.com/entities/19718" target="_blank" data-smartkarma-citation="entities:19718:1">Jardine Matheson Hldgs (JM SP)</a>, which holds 40.16% in JLT, has given an irrevocable to vote in favour of the scheme. In total, irrevocables total 40.45%.  These irrevocables are locked up and cannot be unwound should a superior offer emerge. 
The scheme is subject to approval from JLT shareholders (75%), and anti-trust and regulatory approvals. JLT closed up 30.87% at £18.74, or a gross/annualised spread of 2.07%/3.9% if using spring 2019 completion as guided. Pitched at an all-time price level, this is a done deal.

Jardine Lloyd Thompson Group P (JLT LN) has received an offer from Marsh &amp; Mclennan Cos (MMC US), by way of a scheme, at £19.15/share, a 33.7% premium to last close. 
Jardine Matheson Hldgs (JM SP), which holds 40.16% in JLT, has given an irrevocable to vote in favour of the scheme. In total, irrevocables total 40.45%.  These irrevocables are locked up and cannot be unwound should a superior offer emerge. 
The scheme is subject to approval from JLT shareholders (75%), and anti-trust and regulatory approvals. JLT closed up 30.87% at £18.74, or a gross/annualised spread of 2.07%/3.9% if using spring 2019 completion as guided. Pitched at an all-time price level, this is a done deal.

Matheson's Support Locks Up Marsh & McLennan's Offer For JLT

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Developed international equities (MSCI EAFE) have been underperforming relative to global equities (MSCI ACWI). However, within EAFE, SMID-caps tell a different story and are a great source of investment ideas within the EAFE region. In today’s report we use a bottom-up approach to highlight actionable charts, sorted by market cap (all buys at current levels).

Developed international equities (MSCI EAFE) have been underperforming relative to global equities (MSCI ACWI). However, within EAFE, SMID-caps tell a different story and are a great source of investment ideas within the EAFE region. In today’s report we use a bottom-up approach to highlight actionable charts, sorted by market cap (all buys at current levels).

Bermuda

Hiscox Ltd is a group of companies that operate in the United Kingdom insurance market.  The Company's services include underwriting managed syndicates, underwriting a range of personal and commercial insurance and other underwriting services.  Hiscox provides its services for customers in the United Kingdom and Continental Europe.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hiscox Ltd (HSX LN)

Matheson's Support Locks Up Marsh & McLennan's Offer For JLT

Jardine Lloyd Thompson Group P (JLT LN) has received an offer from Marsh & Mclennan Cos (MMC US), by way of a scheme, at £19.15/share, a 33.7%...

David Blennerhassett

Focus on Outperforming EAFE SMID-Caps

Developed international equities (MSCI EAFE) have been underperforming relative to global equities (MSCI ACWI). However, within EAFE, SMID-caps...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)