Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

JIP Tender Offer for Toshiba (6502) Finally Here

Toshiba's Board Buckles Under - As Things Stand, Board Supports and Recommends JIP Offer

Toshiba Board to Shareholders:  "Yes, Meh But We Did Our Job, Now It's Up To You (We're Tired Too)"

A Bull Investment Case for TSMC (Summary Version)

Quiddity Advisors

Event-Driven

<ul>
<li>It has been four months since JIP officially announced their intention to launch a Tender Offer for <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a> by end-July. 7 weeks since Toshiba's Board supported it.</li>
<li>There's been no material public griping. Peers are sharply higher. There have been news stories suggesting a Western Digital/Kioxia deal is close. That's now extended. The Toshiba deal possibly too. </li>
<li>But huge outperformance by peers, and possible clarity from Kioxia deal terms are unlikely to move the Toshiba Board to demand more. </li>
</ul>


It has been four months since JIP officially announced their intention to launch a Tender Offer for Toshiba Corp (6502 JP) by end-July. 7 weeks since Toshiba's Board supported it.
There's been no material public griping. Peers are sharply higher. There have been news stories suggesting a Western Digital/Kioxia deal is close. That's now extended. The Toshiba deal possibly too. 
But huge outperformance by peers, and possible clarity from Kioxia deal terms are unlikely to move the Toshiba Board to demand more. 


Toshiba (6502) Tender - Certainly Cheaper. Maybe Delayed, But Toshiba Fatigue Is Strong