IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Weekly Deals Digest (19 Jul) - Digital Garage, Kakaku, Get Nice, Shengmu, OOh!Media, Perpetual

Merger Arb Mondays (20 Jul) - Kakaku, Shinko Shoji, Get Nice, Shengmu, Skyworth, Steadfast, Vault

Kakaku.com (2371 JP): More to Go as Bain/LY Return with a Revised Offer

Kakaku.com (2371 JP): Digital Garage Moves to Thwart Bain/LY

Kakaku.com (2371 JP): Rethinking the Arb Trade

Digital Garage (4819 JP): Cheap, but Not Cheerful

Kakaku.com (2371 JP): Bain/LY’s Binding Offer May Get the Job Done

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.nikkei.com/article/DGXZQOUB1619K0W6A710C2000000/" target="_blank" rel="noopener">Nikkei</a> reported that EQT/<a href="https://www.smartkarma.com/entities/digital-garage-inc" target="_blank" data-smartkarma-citation="entities:13747:1" rel="noopener">Digital Garage (4819 JP)</a> has increased its 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> to the mid-JPY3,400, while Bloomberg reported that EQT/DG is now offering JPY3,440-3,460 per share.</li>
<li>The latest EQT/DG offer is designed to game the competing-offer clauses to retain the Board's and KDDI’s support and potentially secure Oasis's allegiance.</li>
<li>The bidding battle is not done yet. By increasing its offer by 1% from JPY3,384 to JPY3,419 (from JPY3,500 to JPY3,535 on an equivalent basis), Bain/LY can regain the advantage.</li>
</ul>



Nikkei reported that EQT/Digital Garage (4819 JP) has increased its offer for Kakaku.com Inc (2371 JP) to the mid-JPY3,400, while Bloomberg reported that EQT/DG is now offering JPY3,440-3,460 per share.
The latest EQT/DG offer is designed to game the competing-offer clauses to retain the Board's and KDDI’s support and potentially secure Oasis's allegiance.
The bidding battle is not done yet. By increasing its offer by 1% from JPY3,384 to JPY3,419 (from JPY3,500 to JPY3,535 on an equivalent basis), Bain/LY can regain the advantage.


Kakaku.com Inc

Kakaku.com (2371 JP): Sheer Gamesmanship