Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Today after the close, the results of the <a href="https://www.smartkarma.com/entities/18815" target="_blank" data-smartkarma-citation="entities:18815:1">Tokai Tokyo Financial Holdings (8616 JP)</a>'s tender offer for <a href="https://www.smartkarma.com/entities/4416" target="_blank" data-smartkarma-citation="entities:4416:1">Takagi Securities Co Ltd (8625 JP)</a> were <a href="http://www.tokaitokyo-fh.jp/news/pressrelease/pdf/fh20170405.pdf" target="_blank">announced</a>. Settlement will commence on April 11th, as planned.Tokai Tokyo has acquired 90.58% of the shares outstanding in the Tender Offer which means that Takagi is now a "Special Subsidiary" and a squeezeout of minorities will proceed as noted in the original Tender Offer announcement <a href="http://www.tokaitokyo-fh.jp/news/pressrelease/pdf/fh20170220.pdf" target="_blank">document</a> (second half of p12). <h2>The Squeezeout</h2>Because Tokai Tokyo has…

Today after the close, the results of the Tokai Tokyo Financial Holdings (8616 JP)'s tender offer for Takagi Securities Co Ltd (8625 JP) were announced. Settlement will commence on April 11th, as planned.Tokai Tokyo has acquired 90.58% of the shares outstanding in the Tender Offer which means that Takagi is now a "Special Subsidiary" and a squeezeout of minorities will proceed as noted in the original Tender Offer announcement document (second half of p12). The SqueezeoutBecause Tokai Tokyo has…

Takagi Securities TOB - Done, Dusted, Squeezeout Mini Arb Left Over

After the close today, <a href="https://www.smartkarma.com/entities/18815" target="_blank" data-smartkarma-citation="entities:18815:1">Tokai Tokyo Financial Holdings (8616 JP)</a> announced that it would launch a tender offer to purchase at least 23.318mm shares of <a href="https://www.smartkarma.com/entities/4416" target="_blank" data-smartkarma-citation="entities:4416:1">Takagi Securities Co Ltd (8625 JP)</a>, and if that minimum is reached, all further tendered shares.<a href="https://www.smartkarma.com/entities/742" target="_blank" data-smartkarma-citation="entities:742:1">Nomura Holdings Inc (8604 JP)</a> subsidiary Nomura Land &amp; Building (NLB) which owns 17.07mm shares (28.56%) of Takagi has agreed to tender all of the shares it holds. <a href="https://www.smartkarma.com/entities/18129" target="_blank" data-smartkarma-citation="entities:18129:1">Nomura Research Institute Ltd (4307 JP)</a>, which is an equity method affiliate of Nomura…

After the close today, Tokai Tokyo Financial Holdings (8616 JP) announced that it would launch a tender offer to purchase at least 23.318mm shares of Takagi Securities Co Ltd (8625 JP), and if that minimum is reached, all further tendered shares.Nomura Holdings Inc (8604 JP) subsidiary Nomura Land &amp; Building (NLB) which owns 17.07mm shares (28.56%) of Takagi has agreed to tender all of the shares it holds. Nomura Research Institute Ltd (4307 JP), which is an equity method affiliate of Nomura…

Japan

TAKAGI SECURITIES CO., LTD. is a comprehensive securities firm.  The Company provides financial services such as dealing, brokerages, underwriting, and distribution of securities, and investment trust.

Takagi Securities (8625 JP)

Takagi Securities TOB - Done, Dusted, Squeezeout Mini Arb Left Over

Today after the close, the results of the Tokai Tokyo Financial Holdings (8616 JP)'s tender offer for Takagi Securities Co Ltd (8625 JP) were...

Travis Lundy

Tokai Tokyo To Take Takagi in a TOB

After the close today, Tokai Tokyo Financial Holdings (8616 JP) announced that it would launch a tender offer to purchase at least 23.318mm shares...

Travis Lundy