PRAP Japan shares open higher on capital and business tie-up with U.S.-based Edelman
PRAP Japan, Inc. <2449> opened with buy-only quotes in Tokyo. The company announced after the close on Oct. 1 that it formed a capital and business partnership with U.S.-based Edelman, one of the world's largest independent public relations firms. The news prompted buying interest.
The partnership aims to leverage Edelman's global network, service capabilities, and extensive client support experience to enhance support for global clients operating in Japan and Japanese companies expanding overseas.
Edelman is expected to acquire 935,800 shares held by Cavendish Square Holding, a holding company and subsidiary of WPP Group, through a negotiated transaction, becoming its top shareholder with a 21.03% voting stake. The total acquisition price is about 1.27 billion yen, with the transaction scheduled to be executed on Oct. 30.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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