Itochu to Launch Tender Offer for Dentsu Soken, Delist with Dentsu Group

M&A · Partnership
โดย Jiji Press·JP·Read original
Summary · why it matters

Itochu Corporation has decided to launch a tender offer (TOB) for Dentsu Soken, a major system development company. On the 28th, Dentsu Soken announced that it had received a TOB proposal from Itochu at 2,880 yen per share through a subsidiary, and that it would express its support for the proposal. Itochu will acquire 38.2% of Dentsu Soken, excluding the shares held by Dentsu Group, and will delist Dentsu Soken. The parent-child listing of Dentsu Soken has been criticized by overseas institutional investors, and Dentsu Group had been considering delisting to improve corporate governance. Dentsu Soken's market capitalization was 535.6 billion yen at the close on the 27th, and if the tender offer is made at 2,880 yen per share, Itochu's acquisition amount is expected to exceed 200 billion yen.

Impact on stocks 3

Cloud & Digital Infrastructure▲ · 1 stocks
DENTSU SOKEN INC.
4812
▲ PositiveCapitalrelevance

Dentsu Soken receives a 2,880 yen/share TOB proposal from Itochu and will be delisted, ending its parent-child listing.

Energy Transition & Power Demand▲ · 1 stocks
Itochu Corporation
8001
▲ PositiveCapitalrelevance

Itochu launches a tender offer to acquire 38.2% of Dentsu Soken for over 200 billion yen, expanding its holdings via M&A.

Communication Services▲ · 1 stocks
Dentsu Group Inc.
4324
▲ PositiveCapitalrelevance

Dentsu Group supports the TOB and delisting of Dentsu Soken, addressing governance criticism from overseas institutional investors.

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