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 (01 Mar) - Toyota Ind, Toho Titanium, Yomeishu, Nintendo, Bluescope, Clearview

Yomeishu Seizo (2540 JP): Evaluating a Potential Privatisation

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yomeishu-seizo-co-ltd" target="_blank" data-smartkarma-citation="entities:6904:1" rel="noopener">Yomeishu Seizo (2540 JP)</a> has announced a tender offer from Reno (a Murakami entity) at an 11.9% discount to the pre-announcement close of JPY4,595. </li>
<li>The economics of the transaction favour Murakami. Due to a series of post-squeezeout transactions, Murakami will recover more funds than it cost to buy out the minorities.  </li>
<li>Murakami is relying on past AGM voting trends and passives to pass the EGM share consolidation vote. Nevertheless, this is done as irrevocables satisfy the minimum.</li>
</ul>



Yomeishu Seizo (2540 JP) has announced a tender offer from Reno (a Murakami entity) at an 11.9% discount to the pre-announcement close of JPY4,595. 
The economics of the transaction favour Murakami. Due to a series of post-squeezeout transactions, Murakami will recover more funds than it cost to buy out the minorities.  
Murakami is relying on past AGM voting trends and passives to pass the EGM share consolidation vote. Nevertheless, this is done as irrevocables satisfy the minimum.


Yomeishu Seizo (2540 JP): Murakami’s Takeunder Is Self-Financing and a Done Deal