Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ihara-science-corp" target="_blank" data-smartkarma-citation="entities:9870:1" rel="noopener">Ihara Science (5999 JP)</a> announced an MBO by the chairman. </li>
<li>It's at an all-time high, but it is not especially attractive. The register is also really interesting.</li>
<li>This is a smallcap but i would not be surprised to see a bumpitrage effort. In fact, I'd be surprised if we didn't.</li>
</ul>



Ihara Science (5999 JP) announced an MBO by the chairman. 
It's at an all-time high, but it is not especially attractive. The register is also really interesting.
This is a smallcap but i would not be surprised to see a bumpitrage effort. In fact, I'd be surprised if we didn't.


Ihara Science (5999 JP) Sees the Chairman Launch an MBO. I Might Expect Excitement.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ihara-science-corp" target="_blank" data-smartkarma-citation="entities:9870:1" rel="noopener">Ihara Science (5999 JP)</a> has recommended an MBO tender offer (Chairman and Toku Corporation) of JPY2,980 per share, a 31.3% premium to the undisturbed price (7 February).</li>
<li>The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the tender offer is set at a 66.25% ownership ratio.</li>
<li>While the tender price represents an all-time share price, it is light in comparison to peer and historical multiples. This suggests deal risk. The offer runs from 9 Feb-24 Mar.</li>
</ul>



Ihara Science (5999 JP) has recommended an MBO tender offer (Chairman and Toku Corporation) of JPY2,980 per share, a 31.3% premium to the undisturbed price (7 February).
The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the tender offer is set at a 66.25% ownership ratio.
While the tender price represents an all-time share price, it is light in comparison to peer and historical multiples. This suggests deal risk. The offer runs from 9 Feb-24 Mar.


Ihara Science (5999 JP): JPY2,980 MBO Tender Offer

Japan

IHARA SCIENCE CORPORATION produces and sells high-pressure and special couplings such as valves and piping materials.  The Company also performs piping works.

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Ihara Science (5999 JP)