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

Sojitz and JAL to Buy Out JALUX Minorities in Tender Offer

Quiddity Advisors

Event-Driven

<ul>
<li>Sojitz and JAL have announced the start of their tender offer for <a href="https://www.smartkarma.com/entities/jalux-inc" target="_blank" data-smartkarma-citation="entities:4339:1" rel="noopener">Jalux Inc (2729 JP)</a>. There was no surprise in November. And no change in the interim.</li>
<li>While not outrageously generous, it is not particularly egregious to minority shareholders and the shareholder structure suggests it gets done easily. </li>
<li>The lack of Japan FTC approval prior to launch is a little odd, but there should be minimal risk, and practically speaking, zero incremental risk vs waiting to start.</li>
</ul>


Sojitz and JAL have announced the start of their tender offer for Jalux Inc (2729 JP). There was no surprise in November. And no change in the interim.
While not outrageously generous, it is not particularly egregious to minority shareholders and the shareholder structure suggests it gets done easily. 
The lack of Japan FTC approval prior to launch is a little odd, but there should be minimal risk, and practically speaking, zero incremental risk vs waiting to start.


JALUX (2729 JP) Tender Offer Commences - Open & Shut Case With Weirdness