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 Bump Response from Kakaku.com Gives Hope for More From Bain

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

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

Quiddity Advisors

Event-Driven

<ul>
<li>EQT has, for the second time in a row and the third time in the cycle, raised its Tender Offer for <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> by a whopping ¥1/share. </li>
<li>On 10 Sep 2026, EQT raised to ¥3,680. Then extended. Then raised to ¥3,681. Two weeks later, it's ¥3,682. This one expires 7 weeks after the price went to ¥3,680.  </li>
<li>Bain is still sitting at ¥3,720 if KDDI agrees. The market is higher. EQT is clearly exasperated that the market isn't listening to reason. </li>
</ul>


EQT has, for the second time in a row and the third time in the cycle, raised its Tender Offer for Kakaku.com Inc (2371 JP) by a whopping ¥1/share. 
On 10 Sep 2026, EQT raised to ¥3,680. Then extended. Then raised to ¥3,681. Two weeks later, it's ¥3,682. This one expires 7 weeks after the price went to ¥3,680.  
Bain is still sitting at ¥3,720 if KDDI agrees. The market is higher. EQT is clearly exasperated that the market isn't listening to reason. 


[Japan M&A] EQT Raises by ¥1 (+0.0272%) AGAIN. EQT Is STILL Upset with Bain and the Market