Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Boral (BLD AU): Seven Slams “Fundamentally Misleading” IE Report

Quiddity Advisors

Event-Driven

<ul>
<li>After <a href="https://www.smartkarma.com/entities/boral-ltd" target="_blank" data-smartkarma-citation="entities:1487:1" rel="noopener">Boral (BLD AU)</a> rejected <a href="https://www.smartkarma.com/entities/seven-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:803:1" rel="noopener">Seven Group (SVW AU)</a>'s cash/scrip Offer, Seven slammed the Independent Expert's report, calling the Target Statement "unbalanced, selective and risks fundamentally misleading Boral minority shareholders".</li>
<li>Seven has now <a href="https://announcements.asx.com.au/asxpdf/20240412/pdf/062ftn1ssxyxr3.pdf" target="_blank" rel="noopener">waived</a> certain tendering thresholds, increasing the cash terms to A$1.70/share from A$1.50/share. Boral will also pay a fully-franked dividend of A$0.26/share, providing A$0.11/share of franking credits. </li>
<li>The IE now considers the Offer to be reasonable. Boral's board recommends shareholders to accept. This is done.</li>
</ul>


After Boral (BLD AU) rejected Seven Group (SVW AU)'s cash/scrip Offer, Seven slammed the Independent Expert's report, calling the Target Statement "unbalanced, selective and risks fundamentally misleading Boral minority shareholders".
Seven has now waived certain tendering thresholds, increasing the cash terms to A$1.70/share from A$1.50/share. Boral will also pay a fully-franked dividend of A$0.26/share, providing A$0.11/share of franking credits. 
The IE now considers the Offer to be reasonable. Boral's board recommends shareholders to accept. This is done.


Boral Ltd

Boral Backs Seven's "Enhanced" Offer