IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Merger Arb Mondays (09 Feb) - Mandom, MCJ, Toyota Ind, Raksul, IJM, Guocoland, Skyworth, ENN

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/br-holdings-corp" target="_blank" data-smartkarma-citation="entities:19365:1" rel="noopener">Br Holdings (1726 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/yokogawa-bridge-holdings-cor" target="_blank" data-smartkarma-citation="entities:5571:1" rel="noopener">Yokogawa Bridge Holdings Cor (5911 JP)</a>’s tender offer of JPY530, a 48.5% premium to the last close. </li>
<li>Despite the lack of an auction, the offer is reasonable as it broadly aligns with the midpoint of the IFA DCF valuation range and above book value (P/B of 1.57x).</li>
<li>Barring the emergence of an activist, this is a done deal. The tender closes on 23 March, with payment commencing from 30 March.</li>
</ul>



Br Holdings (1726 JP) has recommended Yokogawa Bridge Holdings Cor (5911 JP)’s tender offer of JPY530, a 48.5% premium to the last close. 
Despite the lack of an auction, the offer is reasonable as it broadly aligns with the midpoint of the IFA DCF valuation range and above book value (P/B of 1.57x).
Barring the emergence of an activist, this is a done deal. The tender closes on 23 March, with payment commencing from 30 March.


Br. Holdings (1726 JP): Yokogawa Bridge (5911 JP) Tender Offer at JPY530