IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Yaizu Suisankagaku Industry (2812 JP): 3D Succeeds in Securing a Bump to JPY1,438

Yaizu Suisankagaku Industry (2812 JP): J-STAR's JPY1,137 Tender Offer

Yaizu Suidankagaku (2812) | An Odorous Deal

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Yaizu Suisankagaku Industry / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yaizu-suisankagaku-industry" target="_blank" data-smartkarma-citation="entities:20044:1" rel="noopener">Yaizu Suisankagaku Industry (2812 JP)</a>/YSK has recommended Inaba’s tender offer of JPY1,350 per share, an 18.7% premium to J-STAR’s failed offer and a 9.8% premium to the last close. </li>
<li>J-STAR’s offer failed as shares consistently traded above terms due to Murakami and 3D Investment Partners emerging as substantial shareholders. J-STAR extended the close but did not bump its offer.</li>
<li>While Inaba's offer values YSK below book value, Murakami is now supportive. Based on the irrevocables, the minimum acceptance condition requires a 57.2% minority acceptance rate.</li>
</ul>



Yaizu Suisankagaku Industry (2812 JP)/YSK has recommended Inaba’s tender offer of JPY1,350 per share, an 18.7% premium to J-STAR’s failed offer and a 9.8% premium to the last close. 
J-STAR’s offer failed as shares consistently traded above terms due to Murakami and 3D Investment Partners emerging as substantial shareholders. J-STAR extended the close but did not bump its offer.
While Inaba's offer values YSK below book value, Murakami is now supportive. Based on the irrevocables, the minimum acceptance condition requires a 57.2% minority acceptance rate.


Yaizu Suisankagaku Industry (2812 JP): Murakami Succeeds in Securing a New Tender at JPY1,350