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

Asia-Pac Weekly Risk Arb Summary: Sydney Aiport, Beijing Capital Land, IGO/Western Areas

Asia-Pac Weekly Risk Arb Summary: Beijing Capital Land, Suchuang Gas, Siam Dev, 1300Smiles

Asia-Pac Weekly Risk Arb Summary: China Logistics, Kerry Logistics, China Youzan

Sydney Airports (SYD AU): Opportunistic Tilt Amid Cloudy Future

Quiddity Advisors

Event-Driven

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<p>On the 5 July, Australia’s largest airport <a href="https://www.smartkarma.com/entities/sydney-airport" target="_blank" data-smartkarma-citation="entities:19063:1" rel="noopener">Sydney Airport (SYD AU)</a> <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02391761-2A1307944?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> a consortium comprising IFM Investors, QSuper, and fund manager Global Infrastructure Management had made an indicative, non-binding Offer by way of a Scheme at $8.25/share,  a 42% premium to last close.  A little over a week later, SYD concluded the <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02395613-2A1310027?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">proposal</a> was not in the best interest of its shareholders. </p>
<p>Today SYD announced it had received a <em>revised</em> offer of $8.45 from the consortium. The Board also concluded the proposal was low-balled. That rejection comes as no surprise - this is just a 2.4% bump in terms.</p>
<p>The revised bid arrives amid a surge in Covid cases, with New South Wales recording 478 new cases yesterday and seven deaths. </p>
<p>SYD's 2021 interim results will be released on the 20 August, before market open.</p>
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<p>More below the fold.</p>
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On the 5 July, Australia’s largest airport Sydney Airport (SYD AU) announced a consortium comprising IFM Investors, QSuper, and fund manager Global Infrastructure Management had made an indicative, non-binding Offer by way of a Scheme at $8.25/share,  a 42% premium to last close.  A little over a week later, SYD concluded the proposal was not in the best interest of its shareholders. 
Today SYD announced it had received a revised offer of $8.45 from the consortium. The Board also concluded the proposal was low-balled. That rejection comes as no surprise - this is just a 2.4% bump in terms.
The revised bid arrives amid a surge in Covid cases, with New South Wales recording 478 new cases yesterday and seven deaths. 
SYD's 2021 interim results will be released on the 20 August, before market open.


More below the fold.


Sydney Airports (SYD AU) Reject's Consortium's Revised Offer