Merger Arbitrage, Relative Value, Event-Driven

Per Gullberg, CFA, FRM, CAIA

Event-Driven

Panasonic Information System / Event-Driven

<p>On 3 Feb after market close, Panasonic Corp (6752 JP; Panasonic) <a href="https://www.release.tdnet.info/inbs/140120150203017772.pdf" target="_blank">announced</a>&nbsp;that it will turn Panasonic Information Systems (4283 JP; Pana IS) into a wholly owned subsidiary. The transaction will be implemented through a short-form share exchange, meaning that only target shareholder approval is required. The acquiror will be allowed to vote its 64% stake at the target shareholder meeting, meaning that the 2/3rds threshold is a non-issue.</p>

On 3 Feb after market close, Panasonic Corp (6752 JP; Panasonic) announced&nbsp;that it will turn Panasonic Information Systems (4283 JP; Pana IS) into a wholly owned subsidiary. The transaction will be implemented through a short-form share exchange, meaning that only target shareholder approval is required. The acquiror will be allowed to vote its 64% stake at the target shareholder meeting, meaning that the 2/3rds threshold is a non-issue.

Panasonic IS to be taken private in share swap

Japan

Panasonic Information Systems Co. Ltd. manufactures and distributes software products. The Company produces computer softwares, packaged softwares, and other products. Panasonic Information Systems also offers information network services.

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Panasonic IS to be taken private in share swap

On 3 Feb after market close, Panasonic Corp (6752 JP; Panasonic) announced that it will turn Panasonic Information Systems (4283 JP; Pana IS) into...

Per Gullberg, CFA, FRM, CAIA