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] YAGEO Extends Shibaura TOB Limbo at FSA/METI/BOJ Request on FEFTA

[Japan M&A] Minebea Matches YAGEO for Shibaura Elec (6957) At ¥6,200. Presses on Early Cashout

[Japan M&A] YAGEO Overbids Minebea's Overbid of YAGEO's Overbid of Minebea's Overbid - The Endgame

Shibaura Elec (6957) - Minebea Overbids Yageo's Overbid of Minebea's Overbid of Yageo - ¥5,500

YAGEO and Shibaura Still Fighting, Minebea Likely to Bid Up, The Question Is Another YAGEO Overbid

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" data-smartkarma-citation="entities:13212:1" rel="noopener">Yageo Corporation (2327 TT)</a> approached <a href="https://www.smartkarma.com/entities/shibaura-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:12704:1" rel="noopener">Shibaura Electronics (6957 JP)</a> for a takeover at ¥4300. Shibaura dismissed them and asked <a href="https://www.smartkarma.com/entities/minebea-mitsumi-inc" target="_blank" data-smartkarma-citation="entities:5032:1" rel="noopener">Minebea Mitsumi (6479 JP)</a> to overbid. They did at ¥4500. </li>
<li>Then Yageo overbid Minebea at ¥5400, who then overbid Yageo at ¥5500, who then re-overbid at ¥6200. Despite not having its FEFTA Approval in place, YAGEO overbid and launched. </li>
<li>The Minebea CEO <a href="https://toyokeizai.net/articles/-/877292" target="_blank" rel="noopener">objected</a>. We don't know status. Now the Shibaura Special Committee has paused, supporting but not recommending the Minebea bid and Neutral on Yageo. We are in limbo.</li>
</ul>



Yageo Corporation (2327 TT) approached Shibaura Electronics (6957 JP) for a takeover at ¥4300. Shibaura dismissed them and asked Minebea Mitsumi (6479 JP) to overbid. They did at ¥4500. 
Then Yageo overbid Minebea at ¥5400, who then overbid Yageo at ¥5500, who then re-overbid at ¥6200. Despite not having its FEFTA Approval in place, YAGEO overbid and launched. 
The Minebea CEO objected. We don't know status. Now the Shibaura Special Committee has paused, supporting but not recommending the Minebea bid and Neutral on Yageo. We are in limbo.


[Japan M&A] Shibaura in Limbo - "Neutral" On Minebea And "Reserves Opinion" On YAGEO Bid, Waiting...