Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

As anticipated, the IFA in the Target Statement (released this <a href="http://www.asx.com.au/asxpdf/20170227/pdf/43gbs4v3v04cf0.pdf" target="_blank">morning</a>) supported <a href="https://www.smartkarma.com/entities/13273" target="_blank" data-smartkarma-citation="entities:13273:1">Macmahon Holdings Ltd (MAH AU)</a>’s board, that the Unconditional Offer of A$0.145/share launched by <a href="https://www.smartkarma.com/entities/20030" target="_blank" data-smartkarma-citation="entities:20030:1">CIMIC Group Ltd (CIM AU)</a> was neither fair nor reasonable.Macmahon has endured a fractious relationship with CIMIC of late, if recent voting at the AGMs are any guidance.   However, this hostile approach is not isolated to Macmahon, with CIMIC previously taking an antagonistic stance towards <a href="https://www.smartkarma.com/entities/19634" target="_blank" data-smartkarma-citation="entities:19634:1">Sedgman Ltd (SDM AU)</a> and <a href="https://www.smartkarma.com/entities/15573" target="_blank" data-smartkarma-citation="entities:15573:1">Devine Ltd (DVN AU)</a>, while recently launching a hostile offer for <a href="https://www.smartkarma.com/entities/12754" target="_blank" data-smartkarma-citation="entities:12754:1">UGL Ltd (UGL AU)</a>.Macmahon’s share price has floundered, having traded above the offer price only twice in the past three years, and below $0.20 for nearly five years.Macmahon is a minnow compared to CIMIC. Opportunistic or best opportunity to be subsumed into CIMIC?More below the fold.

As anticipated, the IFA in the Target Statement (released this morning) supported Macmahon Holdings Ltd (MAH AU)’s board, that the Unconditional Offer of A$0.145/share launched by CIMIC Group Ltd (CIM AU) was neither fair nor reasonable.Macmahon has endured a fractious relationship with CIMIC of late, if recent voting at the AGMs are any guidance.   However, this hostile approach is not isolated to Macmahon, with CIMIC previously taking an antagonistic stance towards Sedgman Ltd (SDM AU) and Devine Ltd (DVN AU), while recently launching a hostile offer for UGL Ltd (UGL AU).Macmahon’s share price has floundered, having traded above the offer price only twice in the past three years, and below $0.20 for nearly five years.Macmahon is a minnow compared to CIMIC. Opportunistic or best opportunity to be subsumed into CIMIC?More below the fold.

Macmahon Holdings

Macmahon – Worth the Wait in Gold?