Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with 10+ years experience in fundamental and event-driven research.

On Smartkarma, I mainly publish insights on index flow events. This includes predicting regular and intra-review index changes and formulating market-neutral trading strategies based on flow catalysts. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Index Rebal Trades & Special Situations

Green Cross Merger Swap Summary & Arb Spread Status

Green Cross Stock Swap: A 5% Spread Is a Rare Opportunity

Green Cross Merger Got Shareholder Approval (Both Companies): Arb Spread at 5%, I'd Trade It

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

South Korean biopharmaceutical companies <a href="https://www.smartkarma.com/entities/green-cross-cell-corp" target="_blank" data-smartkarma-citation="entities:15811:1" rel="noopener">Green Cross Cell (031390 KS)</a> ("GC Cell") and <a href="https://www.smartkarma.com/entities/green-cross-labcell-corp" target="_blank" data-smartkarma-citation="entities:33237:1" rel="noopener">Green Cross LabCell (144510 KS)</a> ("GC LabCell") <a href="http://www.globalgreencross.com/eng/community/news_view.do?currentPage=0&amp;idx=1345&amp;gubun=0&amp;searchValue=" target="_blank" rel="noopener">announced</a> last Friday they had entered into a definitive merger agreement to combine in an all-stock transaction. Following the completion of the Merger, GC LabCell will be the surviving entity and GC Cell will be the extinct entity. The exchange ratio is set at 0.4023542 GC LabCell Shares per GC Cell Share. At present, the companies have a combined market cap of KRW1.7tn (~US$1.5bn). The Deal has been approved by the Boards of both companies. The completion of this Transaction is subject to Shareholder Approvals and Regulatory Approvals and the Transaction is expected to close in 4Q 2021. More below the fold.<hr><div class="content-remarks">For more information on M&amp;A rules and practices in Korea, please check: <a href="https://www.smartkarma.com/insights/quiddity-korea-m-a-guide-2020" target="_blank" data-smartkarma-citation="insights:39658" rel="noopener">Quiddity Korea M&amp;A Guide 2020</a> </div>

South Korean biopharmaceutical companies Green Cross Cell (031390 KS) ("GC Cell") and Green Cross LabCell (144510 KS) ("GC LabCell") announced last Friday they had entered into a definitive merger agreement to combine in an all-stock transaction. Following the completion of the Merger, GC LabCell will be the surviving entity and GC Cell will be the extinct entity. The exchange ratio is set at 0.4023542 GC LabCell Shares per GC Cell Share. At present, the companies have a combined market cap of KRW1.7tn (~US$1.5bn). The Deal has been approved by the Boards of both companies. The completion of this Transaction is subject to Shareholder Approvals and Regulatory Approvals and the Transaction is expected to close in 4Q 2021. More below the fold.For more information on M&amp;A rules and practices in Korea, please check: Quiddity Korea M&amp;A Guide 2020 

GC Cell - GC LabCell: 韓国バイオ製薬企業の合併で取引が逼迫