Market Chatter: Bain Capital, LY Prepare Binding Bid for Kakaku.com

MT Newswires Live
Jun 29

U.S. investment firm Bain Capital and internet company LY Corp. (TYO:4689) plan to submit a binding bid for comparison shopping website operator Kakaku.com Inc. (TYO:2371), Bloomberg News reported Friday, citing people familiar with the matter.

The bid would challenge Swedish private equity firm EQT AB's 3,000 yen-per-share tender offer, which values Kakaku.com at about 595 billion yen.

Bain Capital and LY Corp. are expected to raise their offer above EQT's bid. The two companies had previously offered 3,232 yen per share in May. Discussions are ongoing, and no final decision has been made, the report said.

Kakaku.com and Bain Capital did not immediately reply to MT Newswires' request for comment.

Shares of Kakaku.com rose nearly 2%, while those of LY Corp. gained about 4% in Monday morning trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10