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

As Fairfax Media Steps Up Cost-Out, We Step Up FVE to AUD 0.70

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/708" target="_blank" data-smartkarma-citation="entities:708:1">Nine Entertainment Co Holdings (NEC AU)</a>'s shares sharply declined (-10.32% to A$2.26) shortly after the announced deal on the 26th July, touching an intra-day low of $2.15 yesterday, implying an almost nil premium to <a href="https://www.smartkarma.com/entities/8996" target="_blank" data-smartkarma-citation="entities:8996:1">Fairfax Media (FXJ AU)</a>'s then share price, down from 21.9% at the time of the announcement. A recovery in Nine's share price to close today at $2.24 places an implied value for Fairfax of A$0.84, in line with my NAV/share, and a 3% premium to last close. 
With ~97% of the merger…

Nine Entertainment Co Holdings (NEC AU)'s shares sharply declined (-10.32% to A$2.26) shortly after the announced deal on the 26th July, touching an intra-day low of $2.15 yesterday, implying an almost nil premium to Fairfax Media (FXJ AU)'s then share price, down from 21.9% at the time of the announcement. A recovery in Nine's share price to close today at $2.24 places an implied value for Fairfax of A$0.84, in line with my NAV/share, and a 3% premium to last close. 
With ~97% of the merger…

Nine's Premium Fades, But Pricing for Fairfax Remains Full