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

Bain Bids Bigger, Goes Hard on Fuji Soft (9749); I've Got 🍿🍿🍿

Fuji Soft (9749) Reiterates Support for KKR Tender#1, Recos Shareholders Wait, Ignores Nozawa Letter

Fuji Soft (9749) - As Bain Prepares to Go Higher, KKR Goes Lower

Fuji Soft (9749) - Possible Issues with New KKR Amended Terms

Quiddity Advisors

Event-Driven

<ul>
<li>On the 19th of September, KKR amended the terms and Scheme/Structure of its Tender Offer for <a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a>. I thought the new terms coercive. </li>
<li>On the 26th, FujiSoft decided there had been no change detrimental to general shareholders. On the 27th, KKR amended the Tender Offer Registration Statement to reflect FSI's revised Opinion.</li>
<li>That means Bain needs to change FSI's mind or come out with a big number before the end of the First Tender, leaving lots of stock for Round Two.</li>
</ul>


On the 19th of September, KKR amended the terms and Scheme/Structure of its Tender Offer for Fuji Soft Inc (9749 JP). I thought the new terms coercive. 
On the 26th, FujiSoft decided there had been no change detrimental to general shareholders. On the 27th, KKR amended the Tender Offer Registration Statement to reflect FSI's revised Opinion.
That means Bain needs to change FSI's mind or come out with a big number before the end of the First Tender, leaving lots of stock for Round Two.


FujiSoft (9749) - Somewhat Inexplicable Renewed Opinion of Fairness on KKR Tender