Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For May 2026, nine new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$15bn.</li>
<li>The average premium for the new transactions announced (or first discussed) in May was ~57%, and a year-to-date average of 48%.</li>
<li>The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For May 2026, nine new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$15bn.
The average premium for the new transactions announced (or first discussed) in May was ~57%, and a year-to-date average of 48%.
The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.


Asia-Pac M&A [May 2026 Wrap]: Vault Minerals, Kakaku.com, Nippon Dry Chemical, Paltac Corporation

<ul>
<li>I tally 30 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>Three new deals were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/tourism-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2787:1" rel="noopener">Tourism Holdings (THL NZ)</a>, <a href="https://www.smartkarma.com/entities/kodensha-co-ltd-the" target="_blank" data-smartkarma-citation="entities:2741:1" rel="noopener">Kodensha Co (1948 JP)</a>, and <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>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>, <a href="https://www.smartkarma.com/entities/qoria-ltd" target="_blank" data-smartkarma-citation="entities:30531:1" rel="noopener">Qoria (QOR AU)</a>, <a href="https://www.smartkarma.com/entities/magnetic-resources-nl" target="_blank" data-smartkarma-citation="entities:17051:1" rel="noopener">Magnetic Resources Nl (MAU AU)</a>, <a href="https://www.smartkarma.com/entities/china-shengmu-organic-milk-ltd" target="_blank" data-smartkarma-citation="entities:12714:1" rel="noopener">China Shengmu Organic Milk (1432 HK)</a>, and <a href="https://www.smartkarma.com/entities/guocoland-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:16496:1" rel="noopener">Guocoland Malaysia (GUOL MK)</a>.</li>
</ul>


I tally 30 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Three new deals were discussed on Smartkarma this week: Tourism Holdings (THL NZ), Kodensha Co (1948 JP), and Nippon Dry Chemical (1909 JP).
Key updates/news also took place on: Atlas Arteria (ALX AU), Qoria (QOR AU), Magnetic Resources Nl (MAU AU), China Shengmu Organic Milk (1432 HK), and Guocoland Malaysia (GUOL MK).


Asia-Pac M&A Weekly Wrap: Atlas Arteria, Tourism Hold., Kodensha, Qoria, Shengmu, Guocoland Malaysia

<ul>
<li>I tally 25 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>Two new deals were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/ju-teng-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:9998:1" rel="noopener">Ju Teng International (3336 HK)</a>'s takeunder and<a href="https://www.smartkarma.com/entities/mkh-bhd" target="_blank" data-smartkarma-citation="entities:6966:1" rel="noopener">MKH Bhd (MKH MK)</a>'s MGO. </li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/australian-strategic-materials" target="_blank" data-smartkarma-citation="entities:30815:1" rel="noopener">Australian Strategic Materials (ASM AU)</a>, <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>, <a href="https://www.smartkarma.com/entities/ooh-media-ltd" target="_blank" data-smartkarma-citation="entities:8662:1" rel="noopener">oOh!Media Ltd (OML AU)</a>, and <a href="https://www.smartkarma.com/entities/webjet-group-limited" target="_blank" data-smartkarma-citation="entities:45177:1" rel="noopener">Webjet Group (WJL AU)</a>.</li>
</ul>


I tally 25 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Two new deals were discussed on Smartkarma this week: Ju Teng International (3336 HK)'s takeunder andMKH Bhd (MKH MK)'s MGO. 
Key updates/news also took place on: Australian Strategic Materials (ASM AU), Atlas Arteria (ALX AU), oOh!Media Ltd (OML AU), and Webjet Group (WJL AU).


Asia-Pac M&A Weekly Wrap: Atlas Arteria , Ju Teng, MKH, Australian Strategic Mat, OOh!Media, Webjet

<ul>
<li>The <a href="https://www.smartkarma.com/entities/rakuten-bank-ltd" target="_blank" data-smartkarma-citation="entities:35638:1" rel="noopener">Rakuten Bank (5838 JP)</a> deal is good for <a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> and <a href="https://www.smartkarma.com/entities/mizuho-financial-group-inc" target="_blank" data-smartkarma-citation="entities:219:1" rel="noopener">Mizuho Financial (8411 JP)</a>; bad for Bank shareholders. The favouritism is cleanly visible. This is a takeunder.</li>
<li>CSRC has approved <a href="https://www.smartkarma.com/entities/china-resources-power-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:5385:1" rel="noopener">China Resources Power (836 HK)</a>'s A-share listing of its renewable energy unit. Even assigning a large holding company discount, there is material upside to CRP's share price.</li>
<li>
<a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a> has a possible merger/arrangement on power semiconductors with Toshiba Storage and Device, and also with Mitsubishi Electric. That would be big.</li>
</ul>


The Rakuten Bank (5838 JP) deal is good for Rakuten (4755 JP) and Mizuho Financial (8411 JP); bad for Bank shareholders. The favouritism is cleanly visible. This is a takeunder.
CSRC has approved China Resources Power (836 HK)'s A-share listing of its renewable energy unit. Even assigning a large holding company discount, there is material upside to CRP's share price.

ROHM Co Ltd (6963 JP) has a possible merger/arrangement on power semiconductors with Toshiba Storage and Device, and also with Mitsubishi Electric. That would be big.


Last Week In Event SPACE: Rakuten Bank/ Rakuten, China Resources Power, ROHM Co Ltd (6963 JP)

<ul>
<li>I tally 26 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>Three new deals were  discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/nissin-shoji-co-ltd" target="_blank" data-smartkarma-citation="entities:18917:1" rel="noopener">Nissin Shoji (7490 JP)</a>, and <a href="https://www.smartkarma.com/entities/paltac-corporation" target="_blank" data-smartkarma-citation="entities:20014:1" rel="noopener">Paltac Corporation (8283 JP)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/ooh-media-ltd" target="_blank" data-smartkarma-citation="entities:8662:1" rel="noopener">oOh!Media Ltd (OML AU)</a>, <a href="https://www.smartkarma.com/entities/emmerson-resources-ltd" target="_blank" data-smartkarma-citation="entities:18705:1" rel="noopener">Emmerson Resources (ERM AU)</a>, and <a href="https://www.smartkarma.com/entities/clearview-wealth-ltd" target="_blank" data-smartkarma-citation="entities:19733:1" rel="noopener">Clearview Wealth (CVW AU)</a>.</li>
</ul>


I tally 26 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Three new deals were  discussed on Smartkarma this week: Kakaku.com Inc (2371 JP), Nissin Shoji (7490 JP), and Paltac Corporation (8283 JP).
Key updates/news also took place on: oOh!Media Ltd (OML AU), Emmerson Resources (ERM AU), and Clearview Wealth (CVW AU).


Asia-Pac M&A Weekly Wrap: Paltac Corp, Nissin Shoji, OOh!Media, Emmerson Res., Clearview Wealth

Australia

Matrix Composites & Engineering Ltd. is an engineering company. The Company specialises in the design, application and manufacturing of products based on advanced composite materials, engineering plastics and elastomers.

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Matrix Composites & Eng (MCE AU)

Asia-Pac M&A [May 2026 Wrap]: Vault Minerals, Kakaku.com, Nippon Dry Chemical, Paltac Corporation

The average premium for the new transactions announced (or first discussed) in May was ~57%, and a year-to-date average of 48%.

David Blennerhassett

Asia-Pac M&A Weekly Wrap: Atlas Arteria, Tourism Hold., Kodensha, Qoria, Shengmu, Guocoland Malaysia

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Asia-Pac M&A Weekly Wrap: Atlas Arteria , Ju Teng, MKH, Australian Strategic Mat, OOh!Media, Webjet

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week In Event SPACE: Rakuten Bank/ Rakuten, China Resources Power, ROHM Co Ltd (6963 JP)

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Asia-Pac M&A Weekly Wrap: Paltac Corp, Nissin Shoji, OOh!Media, Emmerson Res., Clearview Wealth

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

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