Mandom Corporation
(Amendment) Notice Regarding Partial Amendment to ‘Opinion Expression Supporting MBO Implementation and Recommendation for Application’
On January 13, 2026, Mandom Corporation received a legally binding letter of intent from KKR proposing a tender offer at 3,100 yen per share and privatization through a squeeze-out. The Board of Directors resolved to commission a special committee for review.
Key Figures
- Tender Offer Price: 3,100 yen (per share)
- Letter of Intent Receipt Date: 2026-01-13
- Board of Directors Resolution Date: 2026-01-14
AI要約
Overview of Tender Offer (TOB) and Privatization Proposal
Mandom Corporation has received on January 13, 2026, a legally binding letter of intent from KOHLBERG KRAVIS ROBERTS & CO. L.P. (KKR) regarding a tender offer and privatization through a squeeze-out of the Company’s shares. The tender offer price is set at 3,100 yen per share, and KKR aims to commence the tender offer by late January 2026. Several conditions precedent are attached to the start of the tender offer.
Board of Directors’ Response and Future Outlook
At the Board of Directors meeting on January 14, 2026, a resolution was passed to entrust a special committee with the examination of the KKR proposal transaction and whether to recommend acceptance to shareholders. The Chairman and President, due to conflicts of interest, did not participate in the deliberations. The Audit & Supervisory Board members approved the resolution without objections. Going forward, careful consideration including discussions with KKR will be conducted to determine whether the proposal contributes to corporate value and shareholder interests.
