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6 days ago | 
smartkarma.com | Travis Lundy |Arun George |David Blennerhassett |Jesus Aguilar |Jesús Aguilar
In today’s briefing:Yageo Bigly Overbids Minebea (+20%) For Shibaura Elec (6957) At ¥5400[Japan Activism] – ValueAct Agrees to Tender to KKR Topcon (7732) Tender and Join As BuyerShibaura Electronics (6957 JP): No Messing Around as Yageo (2327 TT) Returns with a JPY5,400 OfferPEC Ltd.
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2 weeks ago | 
smartkarma.com | Sanghyun Park |Arun George |Douglas Kim |Jesus Aguilar |Jesús Aguilar
In today’s briefing:Key Implications of SK Inc’s Disposal of SK SiltronAbacus Storage King (ASK AU): Ki Corp/Public Storage’s NBIO at A$1.47Potential Sale of a Controlling Stake in SK Siltron to Hahn & CoIndustrivärden’s Q1 2025: NAV Evolution, Discount, Target NAV, ReplicationKey Implications of SK Inc’s Disposal of SK SiltronSK Inc is selling SK Siltron to cut its 68% debt-to-equity ratio. The sale could reduce borrowings below ₩5T and lower debt ratio to 30-40%.
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2 weeks ago | 
smartkarma.com | Travis Lundy |David Blennerhassett |Arun George |Jesus Aguilar |Jesús Aguilar
In today’s briefing: Trump Team’s Weird Tariff Math – Not Meant to Be Negotiated ENN Energy (2688 HK): This Is An Avoid HKBN (1310 HK): I Squared Inches Closer to a Competing Offer Makino Milling Machine (6135 JP): Nidec Launches Its Offer Dada Nexus (DADA US): JD.Com’s US$2/ADS Firm Offer NZME Limited (NZM NZ/AU): Board Pushes Back On Board Spill Selected European HoldCos and DLC: March 2025 Report, Adding Vivendi [Alert] Buy Havas Trump Team’s Weird Tariff Math – Not Meant to Be Negotiated...
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3 weeks ago | 
smartkarma.com | Arun George |Janaghan Jeyakumar |Jesus Aguilar |Jesús Aguilar |Victor Galliano
In today’s briefing:Sinarmas Land (SML SP): Widjaja Family’s Light Voluntary Unconditional OfferQuiddity Leaderboard ASX Jun25: De Grey Mining Intra-Review Replacement + More Regular ChangesPolicy Shift: Inocsa Makes a Premium Move on Catalana OccidenteAsia Real Estate Tracker (27-Mar-2025): Rava hires Blackstone MDs to lead Japan.
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4 weeks ago | 
smartkarma.com | Arun George |Osbert Tang |Brian Freitas |Jesus Aguilar |Jesús Aguilar
In today’s briefing: ENN Energy (2688 HK): ENN Natural Gas’ Preconditional Cash/Scrip Offer ENN Energy (2688 HK): Our Initial View on the Privatisation – Valuation and Fundamentals ENN Energy (2688 HK) Privatization: Details & Index Implications Xcel Energy – a bright spark to power growth A Power Move: Naturgy Sparks a Strategic Rebalance ENN Energy (2688 HK): ENN Natural Gas’ Preconditional Cash/Scrip Offer ENN Energy (2688 HK) announced a pre-conditional privatisation from ENN Natural Gas...
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1 month ago | 
smartkarma.com | Arun George |Jesus Aguilar |Jesús Aguilar
In today’s briefing:PointsBet (PBH AU): A Tussle Between MIXI (2121 JP) And Bluebet (BBT AU)Selected European HoldCos and DLC: February 2025 ReportPointsBet (PBH AU): A Tussle Between MIXI (2121 JP) And Bluebet (BBT AU)On 26 February, PointsBet Holdings (PBH AU) entered a scheme implementation deed with Mixi Inc (2121 JP) at A$1.06, a 27.7% premium to the undisturbed price of A$0.83 (25 February).
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2 months ago | 
smartkarma.com | Arun George |Tina Banerjee |Michael Fritzell
In today’s briefing:JX Advanced Metals (5016 JP) IPO: The Bear CaseTerumo Corp (4543 JP): Strong Demand Drives Q3FY25 Performance; FY25 Guidance ReiteratedPoper (5134 JP)JX Advanced Metals (5016 JP) IPO: The Bear Case JX Advanced Metals (5016 JP) is a global leader in the semiconductor and ICT materials sector. It is seeking to raise up to US$2.6 billion. In JX Advanced Metals (5016 JP) IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
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2 months ago | 
smartkarma.com | Arun George |David Blennerhassett
In today’s briefing: Sanyo Special Steel (5481 JP): Nippon Steel (5401 JP)’s Light Tender Offer Begs for Activism (Mostly) Asia M&A, Jan 2025: Sun Art, Sanyo Special Steel, Jamco, Ascot, Dropsuite, Smart Share Giga Prize (3830 JP): FreeBit (3843 JP)’s Tender Offer Is a Done Deal Last Week in Event SPACE: Fast Retailing, Sigma, Takeda Pharmaceutical, WH Group Sanyo Special Steel (5481 JP): Nippon Steel (5401 JP)’s Light Tender Offer Begs for Activism Sanyo Special Steel (5481 JP) has...
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2 months ago | 
smartkarma.com | Brian Freitas |Arun George |Tina Banerjee
In today’s briefing:Sigma Healthcare (SIG AU): Shareholders Approve Merger; Passives Could Start Buying in Two WeeksDropsuite (DSE AU): NinjaOne’s Binding Offer a Done DealSigma Healthcare (SIG AU): Shareholders Approves CWG MergerSigma Healthcare (SIG AU): Shareholders Approve Merger; Passives Could Start Buying in Two Weeks Sigma Healthcare (SIG AU) and Chemist Warehouse (CWG) shareholders have approved the merger with 99.86% and 100% of the votes cast in favour.
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2 months ago | 
smartkarma.com | Travis Lundy |Arun George |Brian Freitas |David Blennerhassett
In today’s briefing:3D Launches Partial Tender Offer on NTT UD REIT (8956)NTT UD REIT (8956 JP): 3D’s Unsolicited Partial Tender OfferSolactive Global Uranium & Nuclear Components Index Rebalance: DeepSeek Led Selloff & 1 DeleteFast Retailing (9983 JP): Double Capping & The Reverse Funding TradeJapfa (JAP SP): The Santosa Family (Finally) Makes A MoveSLB Dev (SLB SP): Ong Family Offer By Way Of A Scheme.
