Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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<p>Today after the close, <a href="https://www.smartkarma.com/entities/2181" target="_blank" data-smartkarma-citation="entities:2181:1">Oki Electric Industry Co Ltd (6703 JP)</a> announced a Tender Offer to take out the minorities in its subsidiary <a href="https://www.smartkarma.com/entities/8504" target="_blank" data-smartkarma-citation="entities:8504:1">Oki Electric Cable Co Ltd (5815 JP)</a>.</p>
<p>This would not be abnormal. Parent companies taking out subsidiaries in Japan has a long history, and I expect it will continue as corporate governance strictures demand that more time, money, and effort be spent to keep dual listings alive. </p>
<h2>But It's An Odd Thing...</h2>
</div><p>The parent is paying a premium of <em>just 3%</em> over last traded price…</p>


Today after the close, Oki Electric Industry Co Ltd (6703 JP) announced a Tender Offer to take out the minorities in its subsidiary Oki Electric Cable Co Ltd (5815 JP).
This would not be abnormal. Parent companies taking out subsidiaries in Japan has a long history, and I expect it will continue as corporate governance strictures demand that more time, money, and effort be spent to keep dual listings alive. 
But It's An Odd Thing...
The parent is paying a premium of just 3% over last traded price…

Japan

Oki Electric Cable Co., Ltd. manufactures and sells cables, wires and electronic components. The Company's products include offers camera-link cables, robot cables, communication cables and local area network (LAN) cables, as well as photonic crystal fiber (PCF) optical cables and electrode wires, and printed circuit (FPC) boards and optical components.

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Oki Electric Cable (5815 JP)

Odd OKI Electric Cable Offer (TOB)

Today after the close, Oki Electric Industry Co Ltd (6703 JP) announced a Tender Offer to take out the minorities in its subsidiary Oki Electric...

Travis Lundy

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