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 Bumps Kakaku Bid to ¥3,680 - Through Bain's Bid - Means Bain Bid Likely Soon

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

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

[Japan M&A] EQT+DG Up Kakaku.com (2371 JP) Bid by 3.478261% to ¥3570; Bain Needs To Bump, Again

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

[Japan M&A] Bain Overbids EQT by 2+% and 5.5+% Depending on KDDI Agreement. Market Wants More

Quiddity Advisors

Event-Driven

<ul>
<li>EQT is the incumbent underbidder while Bain's bid is just under 2% higher than EQT's ¥3,570 at ¥3,640. Bain refused to overbid for now. It is still waiting for approvals. </li>
<li>EQT's ¥3,570 bid wasn't enough when it closed today. They weren't going to get it. So they extended for 10 days. And raised. By ¥1/share. </li>
<li>A couple of weeks ago, EQT was adamant delay was the enemy so Bain's 1%/month overbid was not enough. So now EQT is overbidding with time value of 0.06%/month. Hmmmm.</li>
</ul>


EQT is the incumbent underbidder while Bain's bid is just under 2% higher than EQT's ¥3,570 at ¥3,640. Bain refused to overbid for now. It is still waiting for approvals. 
EQT's ¥3,570 bid wasn't enough when it closed today. They weren't going to get it. So they extended for 10 days. And raised. By ¥1/share. 
A couple of weeks ago, EQT was adamant delay was the enemy so Bain's 1%/month overbid was not enough. So now EQT is overbidding with time value of 0.06%/month. Hmmmm.


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

Kakaku.com Inc

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