Marubeni, a Japanese general trading company, has announced a tender offer for the common shares of iFamilySC, which operates the color cosmetics brand rom&nd. The tender offer price is 12,000 won per share, with total consideration of up to approximately KRW 56 billion. The tender offer will run for 20 days this month, targeting a minimum acquisition of 20% and a maximum of 28%.
ウェライエント, an affiliate of Marubeni's largest shareholder, announced a tender offer (TOB) for the common shares of iFamilySC, setting the tender offer price at 12,000 won per share. This represents a premium of approximately 42.5% to the previous day's closing price, and the tender offer is scheduled to run for 20 days this month. The total consideration is expected to be up to KRW 56 billion, and no shares will be purchased if the number of shares tendered falls below the minimum target.
The plan is to acquire between a minimum of 20% of total shares outstanding, or 3,336,277 shares, and a maximum of 28%, or 4,670,788 shares. Any excess tendered shares will be handled on a pro rata basis. NH Investment & Securities is acting as the lead manager, while shares held by the existing largest shareholder and treasury shares are excluded from the TOB.
As of the end of June this year, Co-CEO Kim Tae-wook (金テウク) held a 28.4% interest and Co-CEO Kim Seong-hyeon (金ソンヒョン) held 14%. If the TOB is completed at the maximum level, the approximately 42% held by the two co-CEOs combined with Marubeni's 28% stake could result in potential control of approximately 70%. Following the TOB, Marubeni will be able to nominate at least 1 director in proportion to its ownership interest.