IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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<ul>
<li>
<a href="https://www.smartkarma.com/entities/nippon-dry-chemical-co-ltd" target="_blank" data-smartkarma-citation="entities:13528:1" rel="noopener">Nippon Dry Chemical (1909 JP)</a> announced a tender offer from Alsok (2331 JP) and <a href="https://www.smartkarma.com/entities/carlyle-group-inc-the" target="_blank" data-smartkarma-citation="entities:33402:1" rel="noopener">Carlyle Group / (CG US)</a> at JPY3,730, a 23.3% premium to the last close. </li>
<li>Alsok and Carlyle initially engaged in a bidding war but eventually settled on a joint bid. Post-squeezeout, Alsok and Carlyle will hold 51% and 49% of BidCo's voting rights, respectively.</li>
<li>The offer is attractive, as it represents an all-time high and sits at the high end of the target IFA’s DCF valuation range. This is a done deal. </li>
</ul>



Nippon Dry Chemical (1909 JP) announced a tender offer from Alsok (2331 JP) and Carlyle Group / (CG US) at JPY3,730, a 23.3% premium to the last close. 
Alsok and Carlyle initially engaged in a bidding war but eventually settled on a joint bid. Post-squeezeout, Alsok and Carlyle will hold 51% and 49% of BidCo's voting rights, respectively.
The offer is attractive, as it represents an all-time high and sits at the high end of the target IFA’s DCF valuation range. This is a done deal. 


Nippon Dry Chemical (1909 JP): Alsok/Carlyle Tender Offer at JPY3,730

Japan

HOCHIKI CORPORATION manufactures, markets, installs, and provides maintenance of fire alarms and fire detection systems.  The Company's products include analogue control panels, analogue sensors, and conventional detectors.

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Hochiki Corp (6745 JP)

Nippon Dry Chemical (1909 JP): Alsok/Carlyle Tender Offer at JPY3,730

Alsok and Carlyle initially engaged in a bidding war but eventually settled on a joint bid. The offer is attractive and sits at the high end of the...

Arun George

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