M3 is unlikely to engage in a bidding war. Expect the Board and Pasona to support the Dai-ichi Life proposal. The tender starts in mid-Jan. At the last close, the gross spread was 6.2%.
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.