Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Integrated Design & Engineering Holdings / Event-Driven

<ul>
<li>In 2023, <a href="https://www.smartkarma.com/entities/integrated-design-engineering-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44096:1" rel="noopener">Integrated Design &amp; Engineering Holdings (9161 JP)</a> was created as a technical listing, succeeding <a href="https://www.smartkarma.com/entities/nippon-koei-co-ltd" target="_blank" data-smartkarma-citation="entities:1549:1" rel="noopener">Nippon Koei (1954 JP)</a>. It has been listed for decades. </li>
<li>On Tuesday 19 November, <a href="https://www.smartkarma.com/entities/tokio-marine-holdings-inc" target="_blank" data-smartkarma-citation="entities:7591:1" rel="noopener">Tokio Marine Holdings (8766 JP)</a> announced an agreed/supported deal to buy out <a href="https://www.smartkarma.com/entities/integrated-design-engineering-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44096:1" rel="noopener">Integrated Design &amp; Engineering Holdings (9161 JP)</a>. The register is open. Should be easy. </li>
<li>It's a nice high price for a boring stock, but it is cheap. They are NOT overpaying, but I don't see who would want to run interference on this.</li>
</ul>


In 2023, Integrated Design &amp; Engineering Holdings (9161 JP) was created as a technical listing, succeeding Nippon Koei (1954 JP). It has been listed for decades. 
On Tuesday 19 November, Tokio Marine Holdings (8766 JP) announced an agreed/supported deal to buy out Integrated Design &amp; Engineering Holdings (9161 JP). The register is open. Should be easy. 
It's a nice high price for a boring stock, but it is cheap. They are NOT overpaying, but I don't see who would want to run interference on this.


I D & E Holdings (9161 JP) Gets a TOB Offer from Tokio Marine at +63% (¥6,500) - Probably Done

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/integrated-design-engineering-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44096:1" rel="noopener">Integrated Design &amp; Engineering Holdings (9161 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/tokio-marine-holdings-inc" target="_blank" data-smartkarma-citation="entities:7591:1" rel="noopener">Tokio Marine Holdings (8766 JP)</a>’s tender offer at JPY6,500 per share, a 63.3% premium to the last close.</li>
<li>The offer is attractive as it represents an all-time high, above NAV (including latent real estate gains) and above the midpoint of the IFA DCF valuation range. </li>
<li>Despite the high required minority acceptance rate, an attractive offer facilitates deal completion. The tender runs from 20 November to 15 January 2025 (35 business days).</li>
</ul>



Integrated Design &amp; Engineering Holdings (9161 JP) has recommended Tokio Marine Holdings (8766 JP)’s tender offer at JPY6,500 per share, a 63.3% premium to the last close.
The offer is attractive as it represents an all-time high, above NAV (including latent real estate gains) and above the midpoint of the IFA DCF valuation range. 
Despite the high required minority acceptance rate, an attractive offer facilitates deal completion. The tender runs from 20 November to 15 January 2025 (35 business days).


Integrated Design & Engineering (9161 JP): Tokio Marine (8766 JP) Tender Offer at JPY6,500

Japan

Integrated Design & Engineering Holdings Co., Ltd. offers engineering services. The Company provides rural space formation and development, transportation infrastructures developement, engineering planning and evaluation, construction supervision and management, and other services. Integrated Design & Engineering Holdings also operates energy development.

Integrated Design & Engineering Holdings (9161 JP)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Integrated Design & Engineering Holdings (9161 JP)

I D & E Holdings (9161 JP) Gets a TOB Offer from Tokio Marine at +63% (¥6,500) - Probably Done

Tokio Marine Holdings has announced a takeover of construction/infra/energyinfra engineering consultant ID&E. Very nice premium, not much...

Travis Lundy

Integrated Design & Engineering (9161 JP): Tokio Marine (8766 JP) Tender Offer at JPY6,500

The offer is attractive as it represents an all-time high, above NAV (including latent real estate gains) and above the midpoint of the IFA DCF...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)