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

Quiddity Leaderboard ASX Dec 23: 5 ASX 200 Changes and Other Large Potential Flow Events (NCM, AKE)

Quiddity Leaderboard F100/​​​250 Dec 23: Dechra, Network International, and Other Potential Changes

InvoCare: Shareholder Vote On 31st Oct. IE Says Fair

InvoCare (IVC AU): TPG's Revised $13/Share Non-Binding Offer

InvoCare (IVC AU): TPG's Non-Binding Offer

Quiddity Advisors

Event-Driven

<ul>
<li>After pitching a A$13/share NBIO on the 15 May, TPG has now <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02695673-2A1465479?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">inked</a> a Scheme Implementation agreement with <strong><a href="https://www.smartkarma.com/entities/invocare-ltd" target="_blank" data-smartkarma-citation="entities:9044:1" rel="noopener">InvoCare (IVC AU)</a></strong> at A$12.70/share, inclusive of a A$0.60/share fully franked dividend. </li>
<li>This compares to PE-outfit TPG's A$12.65/share NBIO on the 7 March - which Australia's leading funeral services provider InvoCare promptly rejected.  </li>
<li>A comparatively benign flu season, and an expected ~10% decline in 1H23 EBITDA, largely account for InvoCare's change of heart.</li>
</ul>


After pitching a A$13/share NBIO on the 15 May, TPG has now inked a Scheme Implementation agreement with InvoCare (IVC AU) at A$12.70/share, inclusive of a A$0.60/share fully franked dividend. 
This compares to PE-outfit TPG's A$12.65/share NBIO on the 7 March - which Australia's leading funeral services provider InvoCare promptly rejected.  
A comparatively benign flu season, and an expected ~10% decline in 1H23 EBITDA, largely account for InvoCare's change of heart.


Invocare Ltd

InvoCare Agrees To TPG's Lower Offer