AVI Japan Opportunity (AJOT) has published proposals for a combination with Fidelity Japan Trust (FJV) that would improve liquidity in AJOT’s shares, lower its ongoing charges ratio, and give the manager greater resources to unlock value in the companies it invests in. For FJV shareholders the deal offers the chance to switch into a much better-performing trust, with improved discount control. While a cash exit is available as part of the proposal, AJOT’s also offers shareholders the option t ....