Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Event-Driven

IKang Healthcare Group (ADR) / Event-Driven

<p><a href="https://www.smartkarma.com/entities/741" target="_blank" data-smartkarma-citation="entities:741:1">iKang Healthcare Group (ADR) (KANG US)</a> 's December quarter results provide updated benchmarks for evaluating Yunfeng and Alibaba's US$20/ADS offer for the company. Management did not speak to the offer on their conference call and brushed away several related questions from investors. We think that a fair offer is at least US$24/ADS given the earnings recovery and the potential for "exchange arbitrage" in some form. Unfortunately, management is the biggest obstacle to obtaining a higher offer. </p><p>We have tagged this Insight as positive because we think a deal is likely to go through.</p>

iKang Healthcare Group (ADR) (KANG US) 's December quarter results provide updated benchmarks for evaluating Yunfeng and Alibaba's US$20/ADS offer for the company. Management did not speak to the offer on their conference call and brushed away several related questions from investors. We think that a fair offer is at least US$24/ADS given the earnings recovery and the potential for "exchange arbitrage" in some form. Unfortunately, management is the biggest obstacle to obtaining a higher offer. We have tagged this Insight as positive because we think a deal is likely to go through.

Meinian Onehealth Healthcare H (002044 CH)

IKang: Endgame Approaching, But Fair Price Is Distant