Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

[Japan M&A] CEO & Chairman Entice GS to Sponsor an MBO for Recently Lackluster Raksul (4384)

[Japan M&A/Activism] The Raksul MBO Is In Danger; Bump Clearly Needed

Quiddity Advisors

Event-Driven

<ul>
<li>Today in the PM session, the GS-led consortium bidder for <a href="https://www.smartkarma.com/entities/raksul-inc" target="_blank" data-smartkarma-citation="entities:27043:1" rel="noopener">Raksul Inc (4384 JP)</a> extended the Tender Offer and raised its bid from ¥1,710/share to ¥1,900/share. </li>
<li>"The Tender Offer considered such price to be the maximum and final price that it could offer to the Target Company shareholders." This looks binary. Done or dead.</li>
<li>Since there appear to have been no acquisition proposals made to the company, it looks like this is "it." Activists will be allowed to roll in if they act quickly.</li>
</ul>


Today in the PM session, the GS-led consortium bidder for Raksul Inc (4384 JP) extended the Tender Offer and raised its bid from ¥1,710/share to ¥1,900/share. 
"The Tender Offer considered such price to be the maximum and final price that it could offer to the Target Company shareholders." This looks binary. Done or dead.
Since there appear to have been no acquisition proposals made to the company, it looks like this is "it." Activists will be allowed to roll in if they act quickly.


[Japan M&A/Activism] GS Bumps Raksul, Says Final, Gets One Investor Agreed, Gaslights Minorities