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

T&K TOKA (4636 JP): Imminent TOB Launch? Imminent Bump Needed?

Second Go-Round Tender for T&K TOKA (4636) As Bain Wants It All At ¥1,400/Share

T&K TOKA (4636 JP): Expect ANOTHER Blandiloquent But Bletcherous Bump From Bain

T&K TOKA (4636) Gets More Interesting - A Bump Is Now A Distinct Possibility

Quiddity Advisors

Event-Driven

<ul>
<li>I expected a blandiloquent but bletcherous bump from Bain. Discussed in <a href="https://www.smartkarma.com/insights/t-k-toka-4636-jp-expect-another-blandiloquent-but-bletcherous-bump-from-bain" target="_blank" data-smartkarma-citation="insights:124053" rel="noopener">T&amp;K TOKA (4636 JP): Expect ANOTHER Blandiloquent But Bletcherous Bump From Bain</a>. We got bletcherous. </li>
<li>But at a mere ¥10 uplift to ¥1,410, we did not get blandiloquent. That's insulting. But as suggested in the first piece, there was NAVF Risk. And we got it. </li>
<li>NAVF agreed to sell its 24+% to Bain at ¥1,410 in return for being able to buy 15% of the bidco, fully-levered (i.e. they roll in at minimal cost). </li>
</ul>


I expected a blandiloquent but bletcherous bump from Bain. Discussed in T&amp;K TOKA (4636 JP): Expect ANOTHER Blandiloquent But Bletcherous Bump From Bain. We got bletcherous. 
But at a mere ¥10 uplift to ¥1,410, we did not get blandiloquent. That's insulting. But as suggested in the first piece, there was NAVF Risk. And we got it. 
NAVF agreed to sell its 24+% to Bain at ¥1,410 in return for being able to buy 15% of the bidco, fully-levered (i.e. they roll in at minimal cost). 


T&K TOKA (4636 JP): Bletcherous Bain Bump Doesn't Even Reach Blandiloquent - Another Offensive Deal

T&K Toka Co Ltd

T&K TOKA (4636 JP): Bletcherous Bain Bump Doesn't Even Reach Blandiloquent - Another Offensive Deal