In today’s briefing:
- [Japan Partial Tender] AEON (8267) Tender for TSURUHA (3391) Trading Rich
- Weekly Deals Digest (14 Dec) – Jinke Smart, Meilan, Makino, Raksul, Toyota Industries, Predictive
- Asia-Pac M&A Weekly Wrap: Toyota Inds, Predictive Discovery, Jinke Smart Services, Meilan Airport
- Last Week In Event SPACE: National Storage, Raksul, ANE Cayman, Strategy, Broadmedia, Austal
[Japan Partial Tender] AEON (8267) Tender for TSURUHA (3391) Trading Rich
- Aeon Co Ltd (8267 JP)‘s Partial Offer for Tsuruha Holdings (3391 JP) discussed in [Japan Partial Tender] AEON (8267) Partial Offer for TSURUHA (3391) Announced at ¥2,900/Share is trading rich.
- The Conclusions/Trade section was clear on the near-term risks. There was good short-term upside. There may be less with the stock trading 0.5% away from the tender price.
- With the stock trading so close, it changes the calculus, in both directions.
Weekly Deals Digest (14 Dec) – Jinke Smart, Meilan, Makino, Raksul, Toyota Industries, Predictive
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: SBI Shinsei Bank (8303 JP) and NS Group (471A JP) IPOs.
- Event-Driven developments: Jinke Smart Services (9666 HK), Hainan Meilan International Airport (357 HK), Makino Milling Machine Co (6135 JP), Raksul Inc (4384 JP), Toyota Industries (6201 JP).
Asia-Pac M&A Weekly Wrap: Toyota Inds, Predictive Discovery, Jinke Smart Services, Meilan Airport
- I tally 38 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
- Just one new deal was discussed on Smartkarma this week: Raksul Inc (4384 JP).
- Key updates/news also took place on Toyota Industries (6201 JP),Predictive Discovery (PDI AU), Jinke Smart Services (9666 HK), Hainan Meilan International Airport (357 HK), and Digital Holdings (2389 JP).
Last Week In Event SPACE: National Storage, Raksul, ANE Cayman, Strategy, Broadmedia, Austal
- Brookfield and GIC took a peek behind the curtains and firmed terms for National Storage REIT (NSR AU). Clean deal.
- Raksul Inc (4384 JP) will get done at some price, though not necessarily at ¥1,710/share. You’d want to own Raksul at ¥1,710/share.
- Further inquiries suggest CDH likely controls ~18% of ANE Cayman Inc (9956 HK). This should not be up for debate.
💡 Before it’s here, it’s on Smartkarma
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