Baudroie to go private via MBO, Bain Capital to launch tender offer at 2,970 yen per share
Corporate Action
Baudroie, which operates an IT infrastructure business, announced on the 19th that it will take the company private through a management buyout. A company under U.S. investment fund Bain Capital will conduct a tender offer, with a purchase price of 2,970 yen per share and a period running from the 19th to October 5. Three individuals, including founder and President Shigehiro Tominaga, one representative director, and one director, will remain involved in management after the tender offer is completed. The three, including the president, will transfer their combined 54.65% stake to Bain, and Bain plans to make Baudroie a wholly owned subsidiary through a squeeze-out procedure, after which the company will be delisted. Following the completion of the acquisition, President Tominaga and the other two are expected to reinvest 32%.
