Twinbird Corporation
Notice of Opposition to the Start of Tender Offer for Our Shares by JPNET Holdings
In response to JPNET's tender offer for Twin Bird shares, our Company’s Board of Directors expresses opposition. The Special Committee recognizes that this may constitute a sincere acquisition proposal, but concludes that it would not contribute to value creation due to dis-synergies and high uncertainty. Going forward, we will advance our business based on the medium-term management plan.
Key Figures
- Acquisition price: 800 yen per share (Tender offer price)
- Lower bound of shares to be acquired: 7,270,800 shares
- Tender offer period: 30 business days
AI要約
Review framework for this transaction
In connection with this transaction, an independent advisor was appointed and a special committee was established to ensure fairness of the review process. Based on the letter of intent, we sought the advice of professionals in finance, legal, and strategy, and carefully evaluated from the perspective of enhancing corporate value.
Special Committee's recommendation and our stance
The Special Committee acknowledges that this transaction could potentially be a sincere acquisition proposal, but our company should not implement it and should not endorse it. Concerns about dis-synergies are significant, and at this point it would not contribute to corporate value.
Twinbird Corporation
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