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

StubWorld: Takara Holdings (2531 JP) Coming Up "Cheap" After Tender Offer For Bio

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/takara-holdings-inc" target="_blank" data-smartkarma-citation="entities:11074:1" rel="noopener">Takara Holdings (2531 JP)</a> has been under pressure from activist Value Act. Friday they announced they would buy out their major listed subsidiary <a href="https://www.smartkarma.com/entities/takara-bio-inc" target="_blank" data-smartkarma-citation="entities:10766:1" rel="noopener">Takara Bio Inc (4974 JP)</a>. </li>
<li>The premium is at 43+%. That's pretty good, but the Tender Offer at ¥1,150/share is below the price at which it traded for a decade til two years ago.</li>
<li>This will almost certainly get done. By itself, it doesn't seem to be an activist bumpitrage target. </li>
</ul>



Takara Holdings (2531 JP) has been under pressure from activist Value Act. Friday they announced they would buy out their major listed subsidiary Takara Bio Inc (4974 JP). 
The premium is at 43+%. That's pretty good, but the Tender Offer at ¥1,150/share is below the price at which it traded for a decade til two years ago.
This will almost certainly get done. By itself, it doesn't seem to be an activist bumpitrage target. 


[Japan M&A] Activist-Pressured Takara Holdings (2531) Takes Out Sub Takara Bio (4974)