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 (27 Apr) - Shibaura, Fujitsu General, Gunma/DHFG, Bright Smart, DN Solutions

Shibaura Electronics (6957 JP): MinebeaMitsumi Outbids Yageo for a Second Time

Shibaura Electronics (6957 JP): End Game Nears as Yageo Launches Its Hostile Tender at JPY6,200

Shibaura Electronics (6957 JP): No Messing Around as Yageo (2327 TT) Returns with a JPY5,400 Offer

Shibaura Electronics (6957 JP): Yageo’s (2327 TT) Hostile Preconditional Tender Offer at JPY4,300

Shibaura Electronics (6957 JP): Minebea Mitsumi’s (6479 JP) White Knight Tender Offer at JPY4,500

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>In response to <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" data-smartkarma-citation="entities:13212:1" rel="noopener">Yageo Corporation (2327 TT)</a>’s revised JPY5,400 offer, <a href="https://www.smartkarma.com/entities/shibaura-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:12704:1" rel="noopener">Shibaura Electronics (6957 JP)</a> has asked <a href="https://www.smartkarma.com/entities/minebea-mitsumi-inc" target="_blank" data-smartkarma-citation="entities:5032:1" rel="noopener">Minebea Mitsumi (6479 JP)</a> if it intends to revise its terms. </li>
<li>Minebea is reviewing its offer and has disclosed additional irrevocables from the founder’s family and MUFG. Total irrevocables represent a 15.83% ownership ratio.</li>
<li>On April 22, Yageo issued a <a href="https://www.yageo.com/upload/media/investor/Press_Room/files/Shibaura0421/YAGEO%20Public%20Letter%2020250421_English.pdf" target="_blank" rel="noopener">public letter</a> to change the narrative regarding the Board’s concerns. There is an increasing likelihood that Minebea will return with a revised offer. </li>
</ul>


In response to Yageo Corporation (2327 TT)’s revised JPY5,400 offer, Shibaura Electronics (6957 JP) has asked Minebea Mitsumi (6479 JP) if it intends to revise its terms. 
Minebea is reviewing its offer and has disclosed additional irrevocables from the founder’s family and MUFG. Total irrevocables represent a 15.83% ownership ratio.
On April 22, Yageo issued a public letter to change the narrative regarding the Board’s concerns. There is an increasing likelihood that Minebea will return with a revised offer. 


시바우라 일렉트로닉스(6957 JP): 미네비아, 수정된 제안 검토 중 추가 취소불가 조건 확보