Kakaku.com, Inc.
Notice of receipt of a legally binding proposal regarding our capital policy
We have received a legally binding proposal from Kamgras1 for a go-private bid (cash consideration) and subsequent squeeze-out. The tender offer price is 3,384 yen per share for common stock, with potential upward adjustment to 3,500 yen depending on conditions, and there are tie-ups with parties such as OX/Oasis; the implementation schedule envisions July 2026 or later. At this stage, the Board of Directors will carefully consider which party, Kamgras1 or the proposer, would better enhance shareholder value.
Key Figures
- Tender offer price: 3,384 yen per share
- Tender offer price for the stock acquisition rights: 1 yen per unit
- Assumed tender offer price (if non-participation agreement is reached): 3,500 yen per share
AI要約
Overview of capital policy
We are considering a cash tender offer by Kamgras1 and the subsequent squeeze-out, with the tender offer price set at 3,384 yen for ordinary shares and 1 yen for the stock acquisition rights. If an agreement with KDDI regarding non-participation is reached, the offer price may be raised to 3,500 yen. The proposer parties are coordinating with Bain Capital and LINE Yahoo, with plans to disclose in late July 2026 and commence in early September. Currently, the Board of Directors and Special Committee are deliberating carefully.
Outlook and impact
The focus is whether the public disclosure and the terms of this proposal can be satisfied and whether the approvals can be obtained. The decision on recommending shareholders to participate and the impact on shareholder value will be carefully evaluated. Going forward, alignment with Kamgras1's tender offer agreement, compliance with competition laws and other regulations, and relationships with major shareholders will be key considerations.
Kakaku.com, Inc.
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