Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Event-Driven

<p><a href="https://www.smartkarma.com/entities/66" target="_blank">Bradken Ltd (BKN AU)</a> has <a href="http://clients3.weblink.com.au/pdf/BKN/01785732.pdf" target="_blank">announced</a> a Bid Implementation Agreement from <a href="https://www.smartkarma.com/entities/19433" target="_blank">Hitachi Construction Machinery (6305 JP)</a> (“HCM”) to make a cash offer at $3.25/share, a 34% premium to the last close. The offer has the backing of Bradken’s BoD, on the proviso the IFA assigns a fair &amp; reasonable opinion.</p><p>Bradken has been the subject of various offers in the past 2 years; while the counter has registered a ~five-fold increase since the beginning of the year, ostensibly on the back of restructuring plans. Below the fold we take a preliminary look at this latest offer and initial thoughts on the outcome.</p>

Bradken Ltd (BKN AU) has announced a Bid Implementation Agreement from Hitachi Construction Machinery (6305 JP) (“HCM”) to make a cash offer at $3.25/share, a 34% premium to the last close. The offer has the backing of Bradken’s BoD, on the proviso the IFA assigns a fair &amp; reasonable opinion.Bradken has been the subject of various offers in the past 2 years; while the counter has registered a ~five-fold increase since the beginning of the year, ostensibly on the back of restructuring plans. Below the fold we take a preliminary look at this latest offer and initial thoughts on the outcome.

Bradken / Hitachi Construction– Finally a Done Deal?

Japan

Hitachi Construction Machinery Co., Ltd. develops, manufactures, sells, and repairs construction machinery. The Company's products include hydraulic excavators, crawler cranes, wheel loaders, shield machines, and bulldozers. Hitachi Construction Machinery, a subsidiary of Hitachi, Ltd., markets its products worldwide through sales offices overseas.

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Bradken / Hitachi Construction– Finally a Done Deal?

Bradken Ltd (BKN AU) has announced a Bid Implementation Agreement from Hitachi Construction Machinery (6305 JP) (“HCM”) to make a cash offer at...

David Blennerhassett