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 (05 Apr) - MCJ, E'grand, Sankei RE, Taiyo, Huaqin, Victory Giant

MCJ (6670 JP): Risk/Reward as Shares Trade Through Terms

MCJ (6670 JP): Ascender Capital Sets an Activist Campaign in Motion

MCJ (6670 JP): Maven Belatedly Joins Ascender’s Activism Cause

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Event-Driven

<ul>
<li>Bain notes that its JPY2,200 offer for <a href="https://www.smartkarma.com/entities/mcj-co-ltd" target="_blank" data-smartkarma-citation="entities:14132:1" rel="noopener">MCJ Co Ltd (6670 JP)</a> is final and has no intention of extending the close beyond 7 April.</li>
<li>There remains a chance of a bump as these “final” statements are not binding, and Bain clearly does not have the required acceptances. However, the probability remains low.</li>
<li>The likely scenario remains that Bain completes the offer by lowering the minimum, as today’s statement is likely designed to secure enough acceptances to complete the deal by doing so.</li>
</ul>


Bain notes that its JPY2,200 offer for MCJ Co Ltd (6670 JP) is final and has no intention of extending the close beyond 7 April.
There remains a chance of a bump as these “final” statements are not binding, and Bain clearly does not have the required acceptances. However, the probability remains low.
The likely scenario remains that Bain completes the offer by lowering the minimum, as today’s statement is likely designed to secure enough acceptances to complete the deal by doing so.


MCJ (6670 JP): Bain Moves to Deflate Expectations of a Bump