Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Tatsuta Electric Wire & Cable / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eneos-holdings-inc" target="_blank" data-smartkarma-citation="entities:638:1" rel="noopener">ENEOS Holdings (5020 JP)</a> and subsidiary JX Nippon Mining &amp; Metals Corporation announced today it would buy out minorities in miner and refiner <a href="https://www.smartkarma.com/entities/tatsuta-elec-wire-cable" target="_blank" data-smartkarma-citation="entities:12509:1" rel="noopener">Tatsuta Elec Wire &amp; Cable (5809 JP)</a>. </li>
<li>The Tender Offer comes at a 74% premium for their 37% sub. 5% off a 2yr high, 10% off a 20-year high. This is likely to be a "done deal". </li>
<li>JX probably starts with ~55% in the bag out of the 66.7% minimum. But the tender doesn't start for ~ 6 months. Separately, importantly, there is a precedent here.</li>
</ul>



ENEOS Holdings (5020 JP) and subsidiary JX Nippon Mining &amp; Metals Corporation announced today it would buy out minorities in miner and refiner Tatsuta Elec Wire &amp; Cable (5809 JP). 
The Tender Offer comes at a 74% premium for their 37% sub. 5% off a 2yr high, 10% off a 20-year high. This is likely to be a "done deal". 
JX probably starts with ~55% in the bag out of the 66.7% minimum. But the tender doesn't start for ~ 6 months. Separately, importantly, there is a precedent here.


ENEOS to Buy Out Tatsuta Electric (5809) At 74% Premium

Japan

TATSUTA ELECTRIC WIRE AND CABLE CO., LTD. manufactures wires and cables. The Company's products include power cables, optic fiber cables and its related devices, bonding wires, and water leakage detection systems.  Tatsuta Wire & Cable also produces environmentally friendly cables.

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Tatsuta Electric Wire & Cable (5809 JP)

ENEOS to Buy Out Tatsuta Electric (5809) At 74% Premium

ENEOS bought into 32% of Tatsuta Electric (5809) in 2018. Tatsuta bought shares back. Now ENEOS sub JX Metal Mining is buying out Tatsuta at a 74%...

Travis Lundy

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