Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Today, <a href="https://www.smartkarma.com/entities/nikkon-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:17346:1" rel="noopener">Nikkon Holdings (9072 JP)</a> announced it would take over <a href="https://www.smartkarma.com/entities/chuoh-pack-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:1360:1" rel="noopener">Chuoh Pack Industry (3952 JP)</a> for ¥5,034/share. It closed today at ¥1,349. This is a HUGE win for governance.</li>
<li>The 273% premium is not the big win here. For holders it is, of course, but for Japan Inc shareholders everywhere, the win was the auction process. </li>
<li>This could have come out at 100% premium and that might have been OK. As it is, cross-holders and one big holder together get this deal done. Congrats!</li>
</ul>


Today, Nikkon Holdings (9072 JP) announced it would take over Chuoh Pack Industry (3952 JP) for ¥5,034/share. It closed today at ¥1,349. This is a HUGE win for governance.
The 273% premium is not the big win here. For holders it is, of course, but for Japan Inc shareholders everywhere, the win was the auction process. 
This could have come out at 100% premium and that might have been OK. As it is, cross-holders and one big holder together get this deal done. Congrats!


Nikkon Pays 273% Premium for Chuoh Pack (3952 JP) In Takeover

Japan

NIKKON HOLDINGS CO., LTD. transports freight by rail, trucks, ships, and airplanes.  The Company's freight includes automobile, automobile parts, and agricultural machinery.  In addition to freight services, the Company provides warehousing and packaging services.  The Company also offers customs clearing and casualty insurance services.

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Nikkon Pays 273% Premium for Chuoh Pack (3952 JP) In Takeover

Toyota owns 24% of cardboard company Chuoh Pack. Toyota wants mostly out. So Chuoh conducted an auction. THAT is the governance win. The result is...

Travis Lundy