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 26 years of covering Asia Pacific equities, the past 20 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

Digital Garage Is The Wrong Price As It (Reportedly) Dings LY's Tilt

StubWorld: Stay Long Digital Garage (4819 JP)

[Japan M&A] EQT Launches TOB on Kakaku.Com (2371) But This Isn't A Done Deal

Quiddity Advisors

Event-Driven

<ul>
<li>On the 12th May, <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a> recommended EQT's Offer at ¥3,000/share. The docs flagged Bain+ <a href="https://www.smartkarma.com/entities/ly-corp" target="_blank" data-smartkarma-citation="entities:19603:1" rel="noopener">LY (4689 JP)</a> had also brought in a last minute bid</li>
<li>On the 14th May (today), LY announced it had submitted an initial bid at ¥3,232/share, contingent on due diligence being granted and passed.</li>
<li>Kakaku is potentially worth ~¥ 3,700/share, and is currently trading at ~¥ 3,400. Still some gas in the tank. Separately, I'd also run a ruler over <a href="https://www.smartkarma.com/entities/digital-garage-inc" target="_blank" data-smartkarma-citation="entities:13747:1" rel="noopener">Digital Garage (4819 JP)</a>.</li>
</ul>


On the 12th May, Kakaku.com Inc (2371 JP) recommended EQT's Offer at ¥3,000/share. The docs flagged Bain+ LY (4689 JP) had also brought in a last minute bid
On the 14th May (today), LY announced it had submitted an initial bid at ¥3,232/share, contingent on due diligence being granted and passed.
Kakaku is potentially worth ~¥ 3,700/share, and is currently trading at ~¥ 3,400. Still some gas in the tank. Separately, I'd also run a ruler over Digital Garage (4819 JP).


Digital Garage (4819 JP) Is Cheap As LY & EQT Jostle For Kakaku (2371 JP)'s Control