Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02726691-3A628584?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">18 October</a>, media play <a href="https://www.smartkarma.com/entities/southern-cross-media-group-ltd" target="_blank" data-smartkarma-citation="entities:10374:1" rel="noopener">Southern Cross Media (SXL AU)</a> announced a non-binding indicative proposal from <a href="https://www.smartkarma.com/entities/arn-media-ltd" target="_blank" data-smartkarma-citation="entities:709:1" rel="noopener">ARN Media (A1N AU)</a> and Anchorage.</li>
<li>SXL shareholders are being offered, by way of a Scheme, 0.753 ARN shares and A$0.296/share in cash. SXL considers the terms to be "complex, and highly conditional". </li>
<li>Reportedly SXL has now signed a confidentiality agreement to gather more info on ARN, possibly leading to a firm deal. </li>
</ul>


Back on the 18 October, media play Southern Cross Media (SXL AU) announced a non-binding indicative proposal from ARN Media (A1N AU) and Anchorage.
SXL shareholders are being offered, by way of a Scheme, 0.753 ARN shares and A$0.296/share in cash. SXL considers the terms to be "complex, and highly conditional". 
Reportedly SXL has now signed a confidentiality agreement to gather more info on ARN, possibly leading to a firm deal. 


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>I Squared won the <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>'s auction with a binding A$1.70 offer (A$1.68 cash plus a A$0.02 dividend). That is a 100% premium to the undisturbed A$0.85 price.</li>
<li>No shareholder holds a blocking stake, and substantial holders should support the premium. The independent expert found the scheme fair and reasonable, valuing oOh! at A$1.59–A$1.78 per share.</li>
<li>The ACCC cleared the deal unconditionally. For FIRB and NZ OIO approval, the risk is timing, not outcome. A 0.9% gross spread points to a done deal. </li>
</ul>


I Squared won the oOh!Media Ltd (OML AU)'s auction with a binding A$1.70 offer (A$1.68 cash plus a A$0.02 dividend). That is a 100% premium to the undisturbed A$0.85 price.
No shareholder holds a blocking stake, and substantial holders should support the premium. The independent expert found the scheme fair and reasonable, valuing oOh! at A$1.59–A$1.78 per share.
The ACCC cleared the deal unconditionally. For FIRB and NZ OIO approval, the risk is timing, not outcome. A 0.9% gross spread points to a done deal. 


OOh!media (OML AU): Tight Spread, Low Risk, with Scheme Vote on 2 November

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ck-hutchison-holdings-ltd" target="_blank" data-smartkarma-citation="entities:132:1" rel="noopener">CK Hutchison (1 HK)</a> initiates a second arbitration against the Republic of Panama after Panama's highest court annulled CKH's port contracts earlier this year. </li>
<li>After falling post-1H26 results,  <a href="https://www.smartkarma.com/entities/china-unicom-hong-kong-limited" target="_blank" data-smartkarma-citation="entities:1016:1" rel="noopener">China Unicom (762 HK)</a> is inexpensive to its parent <a href="https://www.smartkarma.com/entities/china-united-network-a" target="_blank" data-smartkarma-citation="entities:12620:1" rel="noopener">China United Network A (600050 CH)</a> - its hybrid domestic A-share twin </li>
<li>The "upside-down world" continues as Trump embraces North Korea, and amps up hostility towards it southern neighbour, possibly disrupting Hanwha's acquisition of <a href="https://www.smartkarma.com/entities/austal-ltd" target="_blank" data-smartkarma-citation="entities:14420:1" rel="noopener">Austal Ltd (ASB AU)</a>'s US ops. </li>
</ul>



CK Hutchison (1 HK) initiates a second arbitration against the Republic of Panama after Panama's highest court annulled CKH's port contracts earlier this year. 
After falling post-1H26 results,  China Unicom (762 HK) is inexpensive to its parent China United Network A (600050 CH) - its hybrid domestic A-share twin 
The "upside-down world" continues as Trump embraces North Korea, and amps up hostility towards it southern neighbour, possibly disrupting Hanwha's acquisition of Austal Ltd (ASB AU)'s US ops. 


Last Week In Event SPACE: CK Hutch, China Unicom, Austal, Steadfast

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Corrections across global ex-US markets continue to limit attractive investment opportunities from both a price and relative strength perspective.  We provide a recap and outlook for global equity markets and highlight individual opportunities across various markets within the Health Care, Communications and Transportation sectors.

Corrections across global ex-US markets continue to limit attractive investment opportunities from both a price and relative strength perspective.  We provide a recap and outlook for global equity markets and highlight individual opportunities across various markets within the Health Care, Communications and Transportation sectors.

Global Strategy: Carnage Continuation Amid Turkey Turmoil and US Dollar Breakout

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

The air of invincibility surrounding the technology sector is dissipating. It began a year ago when some major brand advertisements on <a href="https://www.smartkarma.com/entities/11369" target="_blank" data-smartkarma-citation="entities:11369:1">Alphabet Inc Cl C (GOOG US)</a>'s Youtube started appearing next to content posted by terrorist sympathisers, white supremacists, and pornographers. Marketers then found out several months later their messages were side-by-side to Youtube videos uploaded by paedophiles. The proverbial really hit the fan last month on revelation a data analytics firm called Cambridge…

The air of invincibility surrounding the technology sector is dissipating. It began a year ago when some major brand advertisements on Alphabet Inc Cl C (GOOG US)'s Youtube started appearing next to content posted by terrorist sympathisers, white supremacists, and pornographers. Marketers then found out several months later their messages were side-by-side to Youtube videos uploaded by paedophiles. The proverbial really hit the fan last month on revelation a data analytics firm called Cambridge…

Premature Exhilaration in Free-To-Air TV?

Australia

Southern Cross Media Group Limited operates broadcasting and publishing businesses. The Company operates regional radio and television stations in Australia, and publishes community newspapers in the United States.

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Southern Cross Media (SXL AU)

Southern Cross/ARN Media: Getting Cosy?

If small arbs are your thing, look to short ARN (where available), and buy SXL. Or you may want to just go outright long in SXL.

David Blennerhassett

OOh!media (OML AU): Tight Spread, Low Risk, with Scheme Vote on 2 November

I Squared's A$1.70 bid (100% premium) won a three-way auction. ACCC cleared; FIRB is a timing risk; 0.9% spread signals a done deal. No blocking...

Arun George

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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...

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Vermilion Research

Premature Exhilaration in Free-To-Air TV?

The air of invincibility surrounding the technology sector is dissipating. It began a year ago when some major brand advertisements on Alphabet Inc...

Morningstar, Inc.

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