Oricon Inc. raises bid-only indication, converging toward TOB price of 1,332 yen following MBO announcement
Shares of Oricon Inc. <4800> were flooded with buy-only orders on Friday, lifting their indication price after the company announced a management buyout (MBO) following Thursday's market close. An acquisition vehicle managed by Marunouchi Capital, a private equity firm under the Mitsubishi Corporation <8058> group, will launch a tender offer at 1,332 yen per share to take the company private. Oricon's stock price is rapidly converging toward the offer price.
The minimum purchase threshold for the tender offer is set at 3,903,300 shares, with no upper limit applied. The tender offer period will run from May 29 to July 9. Upon successful completion of the offer, Oricon is expected to be delisted following prescribed procedures. The Tokyo Stock Exchange designated Oricon as a security under supervision (confirmation in progress) on May 28.
Source: MINKABU PRESS
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