LY (TYO:4689) and Bain Capital submitted a binding takeover proposal on Wednesday to take Kakaku.com private via a cash tender offer and squeeze-out, following earlier non-binding proposals in May.
A Cayman Islands partnership, wholly owned and operated by Bain Capital, will act as the offeror, according to a Tokyo bourse filing on Thursday.
The bid received approval from Bain's investment committee and LY's board, read the filing.
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.