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

Quiddity Advisors

Event-Driven

On the 23rd of August, US-based leading toy-maker <a href="https://www.smartkarma.com/entities/hasbro-inc" target="_blank" data-smartkarma-citation="entities:18204:1" rel="noopener">Hasbro Inc (HAS US)</a> reached an agreement to acquire UK-based entertainment company <a href="https://www.smartkarma.com/entities/entertainment-one-ltd" target="_blank" data-smartkarma-citation="entities:21925:1" rel="noopener">Entertainment One (ETO LN)</a> through a Statutory Plan of Arrangement at an all-cash offer price of £5.60 per share which translated to a market cap of £2.8 billion.The Offer Price translates to premia of 26%, 31%, and 35% to Entertainment One's undisturbed price, 1-month VWAP, and 3-month VWAP, respectively.Hasbro's deal to acquire Entertainment One, the owner of the famous pre-school brand Peppa Pig,  comes amidst a collapse of the pound sterling caused by the fears of a no-deal Brexit. The deal is conditional on the receipt of regulatory approvals, approval by Entertainment One shareholders, approval by the Ontario Superior Court of Justice, and other customary closing conditions and is expected to close in 4Q 2019.While the boards of both companies have approved the deal, Entertainment One's shareholders - pre-existing or new - have pushed the price above the terms of the offer.This is a Bump Bet. I am not yet convinced it is a great one. It may for the moment just be a chance to play in the mud.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/097/789/original/peppapigmud3.gif?1567424173" class="editor-image img-responsive" data-smartkarma-image-id="97789"></figure><div style="text-align: left;" class="content-caption">source: from the episode "Muddy Puddles"</div>

On the 23rd of August, US-based leading toy-maker Hasbro Inc (HAS US) reached an agreement to acquire UK-based entertainment company Entertainment One (ETO LN) through a Statutory Plan of Arrangement at an all-cash offer price of £5.60 per share which translated to a market cap of £2.8 billion.The Offer Price translates to premia of 26%, 31%, and 35% to Entertainment One's undisturbed price, 1-month VWAP, and 3-month VWAP, respectively.Hasbro's deal to acquire Entertainment One, the owner of the famous pre-school brand Peppa Pig,  comes amidst a collapse of the pound sterling caused by the fears of a no-deal Brexit. The deal is conditional on the receipt of regulatory approvals, approval by Entertainment One shareholders, approval by the Ontario Superior Court of Justice, and other customary closing conditions and is expected to close in 4Q 2019.While the boards of both companies have approved the deal, Entertainment One's shareholders - pre-existing or new - have pushed the price above the terms of the offer.This is a Bump Bet. I am not yet convinced it is a great one. It may for the moment just be a chance to play in the mud.source: from the episode "Muddy Puddles"

Hasbro Bets on Peppa Pig. Someone Else Bets On More Oink.