Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

IClick (ICLK US): Offer Price In Line With Net Cash

IClick(ICLK US): PAG & Oasis Shake The Trees

Quiddity Advisors

Event-Driven

iClick Interactive Asia Group / Event-Driven

In <a href="https://skr.ma/wEv5t" target="_blank" rel="noopener">iClick(ICLK US): PAG &amp; Oasis Shake The Trees</a>, after <a href="https://www.smartkarma.com/entities/iclick-interactive-asia-group-limited" target="_blank" data-smartkarma-citation="entities:27314:1" rel="noopener">iClick Interactive Asia Group (ICLK US)</a> <a href="https://ir.i-click.com/2021-09-24-iClick-Interactive-Asia-Group-Limited-Announces-Receipt-of-a-Preliminary-Non-Binding-Indicative-Proposal-to-Acquire-the-Company" target="_blank" rel="noopener">announced</a> on the 24 September it had received a preliminary indicative proposal from PAG Pegasus Fund and Oasis Management to acquire all of its outstanding shares for US$6.75 per ADS, in cash, my view was that PAG/Oasis' intention was to shake out potential suitors - including the co-founders - to make a real Offer. 
Yesterday iClick <a href="https://ir.i-click.com/2021-10-18-iClick-Interactive-Asia-Group-Limited-Announces-Receipt-of-another-Unsolicited-Preliminary-Non-Binding-Indicative-Offer-to-Acquire-the-Company" target="_blank" rel="noopener">announced</a> it has received an unsolicited preliminary non-binding indicative offer - dated October 13 - from Infinity Equity Management Co. Ltd. to acquire all of its outstanding shares for US$7.50 per ADS.
iClick's board said it has "not had an opportunity to carefully review or evaluate the proposal, or make any decision with respect to the Company's response to the proposal" - similar wording in response to PAG/Oasis's proposal.
Arguably the board knows what is considered fair - and this latest Offer probably isn't. Unless co-founders Tang and Hsieh opt to join Infinity in a take-private transaction.
More below the fold.

In iClick(ICLK US): PAG &amp; Oasis Shake The Trees, after iClick Interactive Asia Group (ICLK US) announced on the 24 September it had received a preliminary indicative proposal from PAG Pegasus Fund and Oasis Management to acquire all of its outstanding shares for US$6.75 per ADS, in cash, my view was that PAG/Oasis' intention was to shake out potential suitors - including the co-founders - to make a real Offer. 
Yesterday iClick announced it has received an unsolicited preliminary non-binding indicative offer - dated October 13 - from Infinity Equity Management Co. Ltd. to acquire all of its outstanding shares for US$7.50 per ADS.
iClick's board said it has "not had an opportunity to carefully review or evaluate the proposal, or make any decision with respect to the Company's response to the proposal" - similar wording in response to PAG/Oasis's proposal.
Arguably the board knows what is considered fair - and this latest Offer probably isn't. Unless co-founders Tang and Hsieh opt to join Infinity in a take-private transaction.
More below the fold.

iClick Interactive Asia Group

IClick (ICLK US): And Look What Fell