bearish
Fuji Soft (9749 JP) - Bain Bumps UnBigly, and FSI Responds
686 Views13 Dec 2024 12:44
Bain has returned with a new proposed tender offer for FSI (97749) and bumped unbigly to ¥9,600/share with a tender offer which would start late Jan early Feb. That was a strategic mistake.
What is covered in the Full Insight:
- Introduction
- Recent History of Writings on the Takeover
- Bain Bids Anew
- Fuji Soft Responds
- Conclusions and Trade Recommendations
Boomeranged on Tue, 17 Dec 2024 23:46
Fuji Soft came back today with a REJECTION of the Bain bid at ¥9,600. Their reason? 1.58% bump for 3+mos was not enough from the perspective of DCF. What I said. The question then is whether Bain did that on purpose, to elicit that answer, so now they can come back at ¥9,900 and suddenly the annualised return is better. We'll see. I am not sure it is worth buying high ¥9,600s in that hope.
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