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

Expect SG Fleet To Revisit Eclipx As Mcmillan Falls

Notes from the Silk Road: Smartgroup Corporation Ltd (SIQ.AX)

Eclipx Group - All hope on new management driving a turnaround

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/3023" target="_blank">Mcmillan Shakespeare (MMS AU)</a> and <a href="https://www.smartkarma.com/entities/339" target="_blank" data-smartkarma-citation="entities:339:1">Eclipx (ECX AU)</a> have agreed to merge pursuant to a Scheme Implementation Agreement, in an A$911mn deal.
Eclipx shareholders will receive 0.1414 MMS shares plus A$0.46 cash for each Eclipx share, or $2.85/share based on the closing price of MMS on the 7 November, or a 33.2% premium to Eclipx’s undisturbed share price of $2.14 on Friday August 17.
The merged entity will help establish Australia and New Zealand’s leading provider of salary packaging and fleet management company, together with expected EBITDA synergies of A$50mn to be realised in the third year following the merger. 
McMillan shareholders will own ~64% of the combined group and Eclipx shareholders ~36%.
The Scheme has an indicative implementation date of mid-March 2019. The key risks to the deal are the shareholder vote and ACCC approval.
Management unanimously supports the Offer in the absence of a superior proposal, and as it is accepting here - after rebuffing a $2.52/share proposal three months earlier - suggests this offer can't be far off full value.

Mcmillan Shakespeare (MMS AU) and Eclipx (ECX AU) have agreed to merge pursuant to a Scheme Implementation Agreement, in an A$911mn deal.
Eclipx shareholders will receive 0.1414 MMS shares plus A$0.46 cash for each Eclipx share, or $2.85/share based on the closing price of MMS on the 7 November, or a 33.2% premium to Eclipx’s undisturbed share price of $2.14 on Friday August 17.
The merged entity will help establish Australia and New Zealand’s leading provider of salary packaging and fleet management company, together with expected EBITDA synergies of A$50mn to be realised in the third year following the merger. 
McMillan shareholders will own ~64% of the combined group and Eclipx shareholders ~36%.
The Scheme has an indicative implementation date of mid-March 2019. The key risks to the deal are the shareholder vote and ACCC approval.
Management unanimously supports the Offer in the absence of a superior proposal, and as it is accepting here - after rebuffing a $2.52/share proposal three months earlier - suggests this offer can't be far off full value. 

McMillan's Fleet Of Foot Offer for Eclipx

FleetPartners Group

McMillan's Fleet Of Foot Offer for Eclipx