Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Chilled & Frozen Logistics (9099) Gone Ballistic - Reminder of Structure, Price, and Incentives

C&F (9099) Pushes Back on AZ-Com Call for Transparency, Again. Still Not A Buy.

SG Holdings to Launch TOB on C&F Logistics (9099) At A Whopping ¥5,740/Share - HUGE Governance Win

AZ-Com Maruwa Launches Hostile TOB on Chilled & Frozen Logistics (9099) - Expect More Fun To Come

Roland DG (6789) - Brother Still Not Making Friends

Chilled & Frozen Logistics (9099) - Hostile Takeover Launched by AZ-Com Maruwa (9090)

Quiddity Advisors

Event-Driven

Chilled & Frozen Logistics Holdings / Event-Driven

Chilled & Frozen Logistics Holdings (9099 JP)

<ul>
<li>Today, after the close, <a href="https://www.smartkarma.com/entities/chilled-frozen-logistics-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:40987:1" rel="noopener">Chilled &amp; Frozen Logistics Holdings (9099 JP)</a> released a required (by the FIEA) Target Opinion Statement saying "Opinion Withheld."</li>
<li>C&amp;F notes that it had received 9 possible counter-proposals, offered due dili to a certain extent, and by May 1, had 4 binding offers. </li>
<li>There are interesting competitive dynamics at play here, but cross-holding concentration matters. The question is... <em>How much is enough?</em>
</li>
</ul>


Today, after the close, Chilled &amp; Frozen Logistics Holdings (9099 JP) released a required (by the FIEA) Target Opinion Statement saying "Opinion Withheld."
C&amp;F notes that it had received 9 possible counter-proposals, offered due dili to a certain extent, and by May 1, had 4 binding offers. 
There are interesting competitive dynamics at play here, but cross-holding concentration matters. The question is... How much is enough?



Chilled & Frozen's Target Opinion Statement; Chotto Matte (Four Counterbidders)