Sekisui House, Ltd.
Notice of Commencement of Tender Offer for Gifu Zoen Co., Ltd. (Securities Code: 1438)
Commenced a TOB with a minimum tender of 1,529,300 shares and no upper limit to make Gifu Zoen a wholly owned subsidiary. Tender price is 2,770 yen per share and 397,800 yen per stock acquisition right. Period is 2026/11/16–2027/1/13. After six proposal rounds, the price was finalized at 2,770 yen. Cash purchase will be conducted for target shareholders, with subsequent squeeze-out procedures planned.
Key Figures
- Offer price: 2,770 yen
- Planned number of shares to be tendered: 2,621,665 shares
- Maximum period: 37 business days
AI要約
Overview and Purpose of the TOB
Sekisui House, Ltd. has commenced a tender offer to acquire all shares and stock acquisition rights of Gifu Zoen in order to make it a wholly owned subsidiary. The tender price is 2,770 yen per share, and for stock acquisition rights the price is 397,800 yen per right, calculated based on the difference from the exercise price of 781 yen per share. The planned number of shares to be tendered is 1,529,300 shares (minimum), with no upper limit. The period covers 37 business days from 2026/11/16 to 2027/01/13.
Background and Decision-Making Process
The offeror aims to integrate group resources and maximize business value by making Gifu Zoen a wholly owned subsidiary, and has deepened the relationship through capital and business partnerships to support the target's medium- to long-term growth. After due diligence and multiple price negotiations, the final price was set at 2,770 yen. An independent special committee has been established on the target's side to assess fairness and appropriateness.
Sekisui House, Ltd.
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