IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Merger Arb Mondays (25 Nov) - Seven & I, Fuji Soft, ID&EH, Arcadium, Henlius, Canvest, GAPack

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Integrated Design & Engineering Holdings / Event-Driven

Integrated Design & Engineering Holdings (9161 JP)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/integrated-design-engineering-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44096:1" rel="noopener">Integrated Design &amp; Engineering Holdings (9161 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/tokio-marine-holdings-inc" target="_blank" data-smartkarma-citation="entities:7591:1" rel="noopener">Tokio Marine Holdings (8766 JP)</a>’s tender offer at JPY6,500 per share, a 63.3% premium to the last close.</li>
<li>The offer is attractive as it represents an all-time high, above NAV (including latent real estate gains) and above the midpoint of the IFA DCF valuation range. </li>
<li>Despite the high required minority acceptance rate, an attractive offer facilitates deal completion. The tender runs from 20 November to 15 January 2025 (35 business days).</li>
</ul>



Integrated Design &amp; Engineering Holdings (9161 JP) has recommended Tokio Marine Holdings (8766 JP)’s tender offer at JPY6,500 per share, a 63.3% premium to the last close.
The offer is attractive as it represents an all-time high, above NAV (including latent real estate gains) and above the midpoint of the IFA DCF valuation range. 
Despite the high required minority acceptance rate, an attractive offer facilitates deal completion. The tender runs from 20 November to 15 January 2025 (35 business days).


Integrated Design & Engineering (9161 JP): Tokio Marine (8766 JP) Tender Offer at JPY6,500