Nippon Sheet Glass (5202 JP): The Cash-Out Offer Is a Bittersweet Bailout
While the offer is light, the vote should pass. The offer resulted from a market check, and without it, there is a non-negligible risk that the...
424 Views
[Japan Event/M&A] Nippon Sheet Glass Deal Announced - Fast Schedule, Instant Pref Conversion
The Apollo/NSG deal is out. The sad sob story of woe is out there to encourage shareholders to vote for a squeezeout at well below book, but given...
591 Views
[Japan Event/M&A] Nippon Sheet Glass Injection+Debt-For-Equity-For-Takeover Swap
The Nikkei reported yesterday on an unusual non-TOB takeover/squeezeout for minorities in Nippon Sheet Glass, debt-burdened from earlier expansion...
480 Views
Nippon Sheet Glass (5202 JP): Rumoured Restructuring and Squeeze-Out at JPY500
The rumoured restructuring eases the debt burden. While the squeeze-out price is light, the EGM vote will pass, as post-restructuring, Apollo/banks...
554 Views
Merger Arb Mondays (21 Sep) - Kadoya, Leopalace21, Kakaku, Skyworth, Z Fin, OFX, Peet, Cleanaway
I summarise the latest spreads and newsflow for the merger arb situations covered across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...
119 Views