Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<p>After the close yesterday, <a href="https://www.smartkarma.com/entities/15463" target="_blank" data-smartkarma-citation="entities:15463:1">Tobu Railway (9001 JP)</a><a href="http://www.tobu.co.jp/file/pdf/8ff00c0911ead41dc8631a55ef94c7e4/180731.pdf?date=20180731150800" target="_blank">announced</a> that it was launching a Tender Offer to purchase the shares it does not own in <a href="https://www.smartkarma.com/entities/15655" target="_blank" data-smartkarma-citation="entities:15655:1">Tobu Store (8274 JP)</a> at a price of JPY 3,939 per share, which is a relatively low 12.7% premium to yesterday’s close, but is an 18.54% premium to the one-week average, and a 23.75% premium to the one-month average trading price pre-announcement.</p><p>Tobu Rail currently owns 29.40% of Tobu Store. Lead shareholder <a href="https://www.smartkarma.com/entities/18448" target="_blank" data-smartkarma-citation="entities:18448:1">Itochu Corp (8001 JP)</a>, which owns 33.42% of Tobu…</p>

After the close yesterday, Tobu Railway (9001 JP)announced that it was launching a Tender Offer to purchase the shares it does not own in Tobu Store (8274 JP) at a price of JPY 3,939 per share, which is a relatively low 12.7% premium to yesterday’s close, but is an 18.54% premium to the one-week average, and a 23.75% premium to the one-month average trading price pre-announcement.Tobu Rail currently owns 29.40% of Tobu Store. Lead shareholder Itochu Corp (8001 JP), which owns 33.42% of Tobu…

Tobu Rail (9001 JP) To Take Out Tobu Store (8274 JP)

Japan

TOBU STORE CO., LTD. operates supermarkets mainly along Tobu's railway lines. The Company offers products including processed foods, fresh foods, clothing, accessories, and household utensils.

Tobu Rail (9001 JP) To Take Out Tobu Store (8274 JP)

After the close yesterday, Tobu Railway (9001 JP)announced that it was launching a Tender Offer to purchase the shares it does not own in Tobu...

Travis Lundy