Mandom Corporation
(Amendment) Notice Regarding Partial Changes to the “Opinion Expressing Support for the Implementation of the MBO and Recommendation for Tendering”
The tender offer price was raised from 2,520 yen to 2,600 yen, and the tender offer period was extended until February 12, 2026. The Nishimura family shareholders’ voting rights ratio in the new SPC is expected to be 21.8%.
Key Figures
- Tender Offer Price: 2,600 yen (after the second offer price revision)
- Tender Offer Period: Extended until February 12, 2026
- New SPC Voting Rights Ratio: 21.8% (at completion of re-investment)
AI要約
Overview and Changes of the Tender Offer
Regarding the tender offer for Mandom Corporation, the tender offeror raised the purchase price from 2,520 yen to 2,600 yen as of January 28, 2026, and extended the tender offer period until February 12, 2026. The Nishimura family shareholders will invest in the new SPC, with an expected voting rights ratio of 21.8%. Regarding the timing of the re-investment, the re-investment by the shareholders agreeing to tender may be carried out collectively after the squeeze-out procedure is completed.
Background and Future Outlook of the Tender Offer
The tender offeror is considering raising the tender offer price aiming to enhance the corporate value of the company, taking into account the status of the proposed transaction by KKR. The extension of the tender offer period ensures shareholders have sufficient time to make appropriate decisions and secures opportunities for competing tender offers. After the tender offer is successful, stock consolidation and articles of incorporation amendments are planned, and an extraordinary shareholders meeting is scheduled for mid-April 2026.
