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

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

[Japan M&A] Bain Lets 5-Day Overbid Chance Lapse, Will Wait for EQT Tender To Finish

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

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

Quiddity Advisors

Event-Driven

<ul>
<li>On Thursday - the last day of the EQT/DG/Kamgras Tender Offer to take <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> private, the Tender Offeror lifted their Offer Price to ¥3,680.</li>
<li>This clearly surpasses the higher-priced version of the Bain Tender Offer which was based on ¥3,520 (¥3,640 if KDDI agreed). Bain had neglected to overbid when EQT re-underbid by 1.96%.</li>
<li>As always, Kakaku's release is more informative than EQT's. There is obvious reason in the document to expect more.</li>
</ul>


On Thursday - the last day of the EQT/DG/Kamgras Tender Offer to take Kakaku.com Inc (2371 JP) private, the Tender Offeror lifted their Offer Price to ¥3,680.
This clearly surpasses the higher-priced version of the Bain Tender Offer which was based on ¥3,520 (¥3,640 if KDDI agreed). Bain had neglected to overbid when EQT re-underbid by 1.96%.
As always, Kakaku's release is more informative than EQT's. There is obvious reason in the document to expect more.


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