In today’s briefing:
- MBK/Unison Launch ANOTHER Tender on Osstem Implant (048260 KS) To Squeeze Out Minorities
- MBK/Unison Capital Announces a Second Tender Offer for Osstem Implant to Take It Private
- LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services
- Korea Small Cap Gem #20: BYC
MBK/Unison Launch ANOTHER Tender on Osstem Implant (048260 KS) To Squeeze Out Minorities
- As discussed in MBK/Unison Capital Korea Do a Deal for Osstem Implant (048260 KS) Thwarting Activist KCGI, at end-Jan, they launched a deal to get a minimum of 15.4%.
- They ended up getting 61.16%. That left 10.6% of shares out in unaffiliated hands.
- Now they have launched another tender offer to buy the remaining at the same KRW 190k price. There is no minimum. Straight simple risk arb.
MBK/Unison Capital Announces a Second Tender Offer for Osstem Implant to Take It Private
- MBK/Unison Capital consortium announced a second tender offer for Osstem Implant (048260 KS) today in order to take the company private.
- The tender offer price is 190,000 won per share, which is the same price as the first tender offer price.
- The number of shares for the tender offer is 1,654,916, accounting for 10.62% of the outstanding shares.
LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services
- LG CNS provides various IT consulting services in the key digital growth areas including cloud, artificial intelligence (AI), big data, smart factory, and smart logistics.
- LG CNS’s core strength in the AI sector is to capitalize on all the major AI based technologies and providing consulting services to business customers to improve their operations.
- LG Corp (003550 KS) owns 49.95% stake in LG CNS, which is expected to complete its IPO sometime in 2023/2024.
Korea Small Cap Gem #20: BYC
- Byc Co Ltd (001460 KS) is the 20th company in our Korea Small Cap Gems series.
- Estimated value of BYC’s real estate is more than 2 trillion won, which is much higher than its current market cap of 302 billion won.
- A large local fund called Truston has been going activist on BYC for more than a year. Plus, BYC’s Chairman Han is being sued by his mum for inheritance recovery.
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