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] EQT Raises by ¥1 (+0.272%) To Still Below Maket, But EQT Language Could Speed Things Up

[Japan M&A] EQT Bump Response from Kakaku.com Gives Hope for More From Bain

[Japan M&A] EQT Bumps Kakaku Bid to ¥3,680 - Through Bain's Bid - Means Bain Bid Likely Soon

[Japan M&A] EQT Kicks The Can on Its Kakaku (2371JP ) UnderBid by a Whopping ¥1/Share Increase

Quiddity Advisors

Event-Driven

<ul>
<li>On 10 September, just before Bain/LY completed clearance processes, EQT bumped its <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> bid from ¥3,571 to ¥3,680. Kakaku responded the 11th. Markets traded ¥3,800+ next day.</li>
<li>On the 16th, LY Corp announced it would bid ¥3,720 if KDDI agreed. New best bid. Shares traded lower early the 17th. Markets expected a bigger bump. Kakaku responded post-close.</li>
<li>I did too but there is a process here, and it pays to remember you see what Bidders want you to see. </li>
</ul>


On 10 September, just before Bain/LY completed clearance processes, EQT bumped its Kakaku.com Inc (2371 JP) bid from ¥3,571 to ¥3,680. Kakaku responded the 11th. Markets traded ¥3,800+ next day.
On the 16th, LY Corp announced it would bid ¥3,720 if KDDI agreed. New best bid. Shares traded lower early the 17th. Markets expected a bigger bump. Kakaku responded post-close.
I did too but there is a process here, and it pays to remember you see what Bidders want you to see. 


[Japan M&A] Bain/LY Has All Kakaku Approvals, Bumps Bid to Stay In The Game. Now We Await Talks