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

Shibaura Electronics (6590 JP) – Takeover Battle: Minebea Certainty Vs. YAGEO Premium

[Japan M&A] YAGEO Upping the Stakes in the Game of 🐓 over Shibaura (6957 JP)

[Japan M&A] Minebea Forces a Game of Regulatory Chicken on Shibaura (6957 JP)

Quiddity Advisors

Event-Driven

<ul>
<li>Last weekend then post-close Monday, <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" data-smartkarma-citation="entities:13212:1" rel="noopener">Yageo Corporation (2327 TT)</a> raised its TOB Price for <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> to ¥7,130 - a full 15% through Minebea's proposed ¥6,200/share terms.</li>
<li>Minebea was playing chicken with the result, closing its tender on 28 August, before Japan's Foreign Direct Investment approval (FEFTA approval) was cleared, expected 1 Sep or later.</li>
<li>Today post-close, YAGEO <a href="https://www.yageo.com/en/PressRoom/Content/press_room?category=ir_pr&amp;news_id=20250827&amp;page=1" target="_blank" rel="noopener">announced</a> it had concluded discussions with METI, would make all required regulatory submissions today, and expects to obtain approval "no later than 10 September"</li>
</ul>


Last weekend then post-close Monday, Yageo Corporation (2327 TT) raised its TOB Price for Shibaura Electronics (6957 JP) to ¥7,130 - a full 15% through Minebea's proposed ¥6,200/share terms.
Minebea was playing chicken with the result, closing its tender on 28 August, before Japan's Foreign Direct Investment approval (FEFTA approval) was cleared, expected 1 Sep or later.
Today post-close, YAGEO announced it had concluded discussions with METI, would make all required regulatory submissions today, and expects to obtain approval "no later than 10 September"


[Japan M&A] YAGEO Says It Expects FDI Clearance on Shibaura - Minebea Likely To Fold