Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>In January 2023, NAVF and Michael 1925 LLC - affiliates of Dalton Investments LLC - announced a hostile partial Tender Offer for <a href="https://www.smartkarma.com/entities/t-k-toka-co-ltd" target="_blank" data-smartkarma-citation="entities:18678:1" rel="noopener">T&amp;K Toka Co Ltd (4636 JP)</a>. </li>
<li>It failed. They wanted to buy 21.72% at ¥1300 to get to 44% post-Tender. The Company objected. Dalton/etc didn't get the shares. Shares fell afterward. </li>
<li>Today, Bain announced a deal to take over the company at ¥1,400/share. T&amp;K TOKA has agreed. It may not be as easy as that. And there is a fulcrum investor.</li>
</ul>


In January 2023, NAVF and Michael 1925 LLC - affiliates of Dalton Investments LLC - announced a hostile partial Tender Offer for T&amp;K Toka Co Ltd (4636 JP). 
It failed. They wanted to buy 21.72% at ¥1300 to get to 44% post-Tender. The Company objected. Dalton/etc didn't get the shares. Shares fell afterward. 
Today, Bain announced a deal to take over the company at ¥1,400/share. T&amp;K TOKA has agreed. It may not be as easy as that. And there is a fulcrum investor.


Second Go-Round Tender for T&K TOKA (4636) As Bain Wants It All At ¥1,400/Share

Japan

T&K TOKA CO., LTD. manufactures and sells specialized inks for printing applications.  The Company exports its products throughout Southeast Asia.

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

Second Go-Round Tender for T&K TOKA (4636) As Bain Wants It All At ¥1,400/Share

T&K TOKA saw 20+% owner Dalton try to go to 44% in a Partial Tender in Jan 23. They didn't get the shares. The stock fell. The company did a...

Travis Lundy