Toyo Construction (1890) Tender Situation Indeed Getting Funky

599 Views31 Mar 2022 01:35

SUMMARY

Toyo Construction (1890 JP)'s Independent Committee thought this deal was being done too cheaply, but they signed off on it. I thought it was cheap too.
I thought that a leading activist in the name would think so too, and try his hand because of his running start of 7+%. Huge volume Day1 sparked wider interest.
It has traded every day so far above terms so far but on the first full day of trading, the activist Murakami-san bailed. That changes things, but... it's still funky.

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