Daily Brief Event-Driven: (Mostly) Asia-Pac M&A: Shibaura and more

In today’s briefing:

(Mostly) Asia-Pac M&A: Shibaura, Tecnos, Insignia Fin., Fosun Tourism, Fuji Soft, Shin Kong/Taishin
Last Week in Event SPACE: Kyocera, WH Group/Smithfield, CNBM, Japan Eyewear, Core Concept Tech
EQD | Kospi Index Options Weekly (February 03 – 07): Implied Vol Does a Roundtrip

(Mostly) Asia-Pac M&A: Shibaura, Tecnos, Insignia Fin., Fosun Tourism, Fuji Soft, Shin Kong/Taishin

You could label Kyocera Corp (6971 JP)“BULLISH” because the stock goes up rather than down; but you could easily label this BEARISH because the prospects aren’t exciting.
WH Group (288 HK)spins off Smithfield Foods (SFD US) – below the prior expected price range. Pricing looks full here.
As China National Building Material (3323 HK)‘s Partial Offer heads towards the pointy end, do you buy, and/or borrow, and tender; short outright; or short tender?

Implied vols rose 2.22 points in Monday’s sell off but round-tripped on the week, giving all the gains back by Friday.
Rough start to the week amid tariff talk, Kospi dropping 2.64%.
At this level we expect implied vol to remain more reactive to price shocks than we have seen over the past two months.

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