Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

Think Childcare (TNK AU): Competitive Bid by Busy Bees

Think Childcare (TNK AU): Bigger Bid by Busy Bees

Think Childcare (TNK AU): Busy Bees Delivers a Knock-Out Bid

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

On 16 November, Australia-based Childcare company <a href="https://www.smartkarma.com/entities/think-childcare-ltd" target="_blank" data-smartkarma-citation="entities:18899:1" rel="noopener">Think Childcare (TNK AU)</a> announced they had received a <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02308970-3A555430?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">Non-binding Indicative Proposal</a> from the PE arm of Australian investments firm <a href="https://www.alceon.com.au/" target="_blank" rel="noopener">Alceon Group</a>.<a href="https://www.alceon.com.au/" target="_blank" rel="noopener">Alceon Group</a> is an Australian independent multi-strategy alternative investments firm with "four key investment platforms": Private Equity, Real Estate, Corporate Credit, and Liquid Strategies. They have around A$2bn in capital under management. The Offer Price is A$1.35/share and the form of consideration could be either cash or a combination of cash and shares in an unlisted newly-formed entity. This Deal values the Target company at an enterprise value of A$300mn and a market cap of A$82mn. The successful completion of this transaction is likely to be conditional on the completion of confirmatory due diligence, obtaining necessary funding, regulatory approvals and Target Shareholder approval. More below the fold. <hr><div>For more information about M&amp;A rules, regulations, and practices in Australia, please refer to <a href="https://www.smartkarma.com/insights/quiddity-australia-m-a-guide-2019" target="_blank" data-smartkarma-citation="insights:30118" rel="noopener">Quiddity Australia M&amp;A Guide 2019</a> and <a href="https://www.smartkarma.com/insights/quiddity-m-a-australia-foreign-investment-reforms" target="_blank" data-smartkarma-citation="insights:40210" rel="noopener">Quiddity M&amp;A: Australia Foreign Investment Reforms</a> </div>

On 16 November, Australia-based Childcare company Think Childcare (TNK AU) announced they had received a Non-binding Indicative Proposal from the PE arm of Australian investments firm Alceon Group.Alceon Group is an Australian independent multi-strategy alternative investments firm with "four key investment platforms": Private Equity, Real Estate, Corporate Credit, and Liquid Strategies. They have around A$2bn in capital under management. The Offer Price is A$1.35/share and the form of consideration could be either cash or a combination of cash and shares in an unlisted newly-formed entity. This Deal values the Target company at an enterprise value of A$300mn and a market cap of A$82mn. The successful completion of this transaction is likely to be conditional on the completion of confirmatory due diligence, obtaining necessary funding, regulatory approvals and Target Shareholder approval. More below the fold. For more information about M&amp;A rules, regulations, and practices in Australia, please refer to Quiddity Australia M&amp;A Guide 2019 and Quiddity M&amp;A: Australia Foreign Investment Reforms 

Think Childcare (TNK AU) : Takeover Proposal From Alceon Group Seems Light