Worth reading
77Important
Scored from 3 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
3597
¥ per shareWording
Avoiding a definitive answer
How definitive the wording is.This transaction
This tender offerCounterpartyBCPE Blitz Cayman, L.P., Investment funds advised by Bain Capital Private Equity, L.P. and their group companies, KDDI Corporation
Disclosing companyLY Corporation
Date of board resolution16 September 2026
Execution Date / Effective DateTo be determined. The tender offer is expected to commence promptly once conditions including a resolution by the target company's board of directors approving the tender offer and recommending that shareholders tender their shares have been satisfied
Consideration and expenses
Acquisition price¥3,597 per share. If a non-tender agreement can be entered into with KDDI Corporation, the price will be ¥3,720 per share
Type of ConsiderationCash
Tender offer price¥3,597 per share of the target company. If a non-tender agreement can be entered into with KDDI Corporation, the price will be ¥3,720 per share. The tender offer price for stock acquisition rights is Not disclosed
Procedures and assumptions
Valuation methodologyA valuation report dated 28 July 2026 from Goldman Sachs Japan Co., Ltd. and financial advice. The specific valuation method is Not disclosed
Independent valuation institutionGoldman Sachs Japan Co., Ltd.
Special CommitteeEstablished. Number and attributes of members: Not disclosed
Conditions Precedent to ExecutionA favorable opinion from the target company and a resolution by its board of directors recommending that shareholders tender their shares; an opinion from the special committee that the resolution is appropriate; no material changes to the business or assets of the target company or its subsidiaries; completion of the necessary clearances or a reasonable prospect of completion; and no undisclosed material facts
Management structure after acquisitionIf a non-tender agreement can be entered into with KDDI Corporation, the target company plans to limit its shareholders to the tender offeror and KDDI and carry out a share consolidation to take the target company private. The corporate name, representative, and treatment of employees are Not disclosed
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | BCPE Blitz Cayman, L.P., Investment funds advised by Bain Capital Private Equity, L.P. and their group companies, KDDI Corporation |
| Name of the Subject Company | Kakaku.com,Inc. |
| Acquisition price | ¥3,597 per share. If a non-tender agreement can be entered into with KDDI Corporation, the price will be ¥3,720 per share |
| Type of Consideration | Cash |
| Tender offer price | ¥3,597 per share of the target company. If a non-tender agreement can be entered into with KDDI Corporation, the price will be ¥3,720 per share. The tender offer price for stock acquisition rights is Not disclosed |
| Date of board resolution | 16 September 2026 |
| Execution Date / Effective Date | To be determined. The tender offer is expected to commence promptly once conditions including a resolution by the target company's board of directors approving the tender offer and recommending that shareholders tender their shares have been satisfied |
| Valuation methodology | A valuation report dated 28 July 2026 from Goldman Sachs Japan Co., Ltd. and financial advice. The specific valuation method is Not disclosed |
| Independent valuation institution | Goldman Sachs Japan Co., Ltd. |
| Special Committee | Established. Number and attributes of members: Not disclosed |
| Conditions Precedent to Execution | A favorable opinion from the target company and a resolution by its board of directors recommending that shareholders tender their shares; an opinion from the special committee that the resolution is appropriate; no material changes to the business or assets of the target company or its subsidiaries; completion of the necessary clearances or a reasonable prospect of completion; and no undisclosed material facts |
| Management structure after acquisition | If a non-tender agreement can be entered into with KDDI Corporation, the target company plans to limit its shareholders to the tender offeror and KDDI and carry out a share consolidation to take the target company private. The corporate name, representative, and treatment of employees are Not disclosed |
Items this document does not state (19)
Business Description of the Subject CompanyLocation of the Subject CompanyCapital Stock of the Subject CompanyDate of Establishment of the Subject CompanyNet Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyExpenses other than the acquisition priceMerger ratio/share exchange ratioMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredVoting rights ownership percentageFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceContract Date
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Following the price increase for the Kamgras 1 tender offer, the decision was based on a comprehensive consideration of the target company's financial information, the results of due diligence, whether the target company's board of directors would approve the transaction, and the outlook for tenders. With respect to LINE Yahoo, the decision also took into account the valuation report obtained from Goldman Sachs Securities and its financial advice.
How to read this page
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