In today’s briefing:
- Last Week in Event SPACE: NEC Network, SingPost, Seven & I, CPMC, Exedy
- (Mostly) Asia-Pac M&A: Insignia, Fosun Tourism, GJS/Haitong, Fuji Soft, Dexus Property
Last Week in Event SPACE: NEC Network, SingPost, Seven & I, CPMC, Exedy
- Nec Networks (1973 JP)‘s own FA didn’t include any measure of transaction synergies to be created about which NEC and NESIC were so sure. This is not being done right.
- Singapore Post (SPOST SP)‘s muted price action after announcing the ~S$900mn FMH sale is illustrative. But expect more value to be unlocked from divesting non-core ops going forward.
- The FTC’ blocking the giant grocery merger of Kroger Co (KR US) and Albertsons Cos (ACI US) spells trouble for ACT and Seven & I Holdings (3382 JP).
(Mostly) Asia-Pac M&A: Insignia, Fosun Tourism, GJS/Haitong, Fuji Soft, Dexus Property
- I tally 51 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Five new deals this week: Insignia Financial (IFL AU), Fosun Tourism (1992 HK), and Lifestyle China (2136 HK). VCredit Holdings (2003 HK) and Vesync (2148 HK) also in the crosshairs.
- Key updates/news took place on: Guotai Junan Securities (2611 HK)/Haitong Securities Co Ltd (H) (6837 HK), Fuji Soft Inc (9749 JP), CPMC Holdings (906 HK), and Dexus Property (DXS AU)