SoftBank's LY Corporation teams up with Bain Capital to raise acquisition offer for Kakaku.com, valuing it at over $4 billion
Source: Global Market Broadcast
LY Corp, a subsidiary of SoftBank Group, announced on May 14 that it has partnered with Bain Capital to increase its acquisition offer for the Japanese price comparison and service platform operator Kakaku.com. This move values the company at over $4 billion and is aimed at defeating a competing bid launched by Swedish investment firm EQT.
According to the latest disclosed plan, the consortium formed by LY Corp and Bain Capital is now offering an all-cash bid of 3,232 yen per share, a 7.7% increase from the previous initial offer of 3,000 yen per share. In its statement, LY Corp emphasized that with the rise of generative artificial intelligence, the business resources owned by Kakaku.com hold "extremely high strategic value." As SoftBank's technology flagship, LY Corp currently operates the social app Line and Yahoo Japan.
Previously, the Swedish private equity giant EQT officially launched a tender offer on Wednesday aimed at taking Kakaku.com private, with an offer price of 3,000 yen per share. Although this plan has received unanimous support from Kakaku.com's board of directors, LY Corp’s significant price increase has further escalated the bidding competition.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
As global central banks race to turn hawkish, Bank of Japan risks falling behind as yen remains under pressure
As traders bet that Japanese policymakers will struggle to keep pace with the global shift toward hawkish central banks—a development that the market believes will maintain a wide gap between Japanese interest rates and those of major economies—the yen is under pressure against the US dollar.
McDonald's (MCD.US) Tests Digital Menu Board Advertising Slots to Explore New Revenue Streams
McDonald's is leveraging its vast audience and widely distributed digital menu board network to display advertisements for third-party brands, thereby creating a new high-margin revenue stream.
Gold remains range-bound, awaiting direction
Crypto prices
More
