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 Activism] Mandom (4917) Holders Get an Early Win as MBO Bidder CVC Bumps 29%

[Japan Activism] Mandom (4917 JP) - Murakami at 20% and Mandom Offers A Sweet Poison Pill

[Japan Activism] Mandom (4917 JP) MBO Sees Murakami Pushing Harder, Now at 16.59%

Quiddity Advisors

Event-Driven

<ul>
<li>The Nikkei came out post-close with an <a href="https://www.nikkei.com/article/DGXZQOUB0996J0Z01C25A2000000/" target="_blank" rel="noopener">article</a> saying that KKR had offered "more than 10%" ("higher than ¥2,800") for <a href="https://www.smartkarma.com/entities/mandom-corp" target="_blank" data-smartkarma-citation="entities:8353:1" rel="noopener">Mandom Corp (4917 JP)</a> vs the revised ¥2,520 CVC Bid.</li>
<li>Mandom announced a revision to the Opinion Statement to include some but not a lot of details. That triggers an extension to the deal, closing 5 Jan vs 18 Dec.</li>
<li>The language in the Mandom release is kind of interesting. This price gets us closer, but it may not be high enough.</li>
</ul>


The Nikkei came out post-close with an article saying that KKR had offered "more than 10%" ("higher than ¥2,800") for Mandom Corp (4917 JP) vs the revised ¥2,520 CVC Bid.
Mandom announced a revision to the Opinion Statement to include some but not a lot of details. That triggers an extension to the deal, closing 5 Jan vs 18 Dec.
The language in the Mandom release is kind of interesting. This price gets us closer, but it may not be high enough.


[Japan M&A] Nikkei Reports KKR Has Proposed an Overbid for Mandom (4917) At ¥2800+