Aisin sold down 34% of Exedy. Exedy bought back some, will buy back more. This caused overhang. But the stock got CHEAP and the register became vulnerable to activism. Now Murakami is activisting.
What is covered in the Full Insight:
Exedy’s Stock Sell-down by Aisin
Price Fluctuations
Murakami Group's Stock Acquisition
Capital Allocation Prospects
Summary and Investment Advice
Boomeranged on Fri, 21 Jun 2024 15:55
The Murakami Group has now bought 10.1% of Exedy (7278). Interestingly, NOMURA Aya bought another 1.18% on 14 June to get to 9.59%, then sold 6.79% to Minami Aoyama Fudosan. That suggests to me they are looking at this as a large tender offer buyback situation rather than a market sale or cross sale (the way they sold Cosmo Energy and Aozora).
To me, that means they can continue to "push".
SUMMARY
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