The tender offer price was revised for the third time to 3,105 yen per share, and on February 9, 2026, the Board of Directors resolved that the tender offeror’s proposal was superior to KKR’s proposal and recommended shareholders to 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"4917","jir_company_name":"Mandom Corporation","jir_importance":"\u2605\u2605\u2605\u2605\u2605","jir_publication_date":"2026-02-09","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/02\/4917-20260209-01.pdf","jir_short_summary":"The tender offer price was revised for the third time to 3,105 yen per share, and on February 9, 2026, the Board of Directors resolved that the tender offeror's proposal was superior to KKR's proposal and recommended shareholders to participate.","jir_summary":"### Overview of the Tender Offer and Board's Decision\nMandom Corporation received a third revised proposal on February 6, 2026, from Caron Holdings Co., Ltd. for the MBO tender offer, with the tender offer price set at 3,105 yen per share. After comparing with KKR\u2019s proposal, the Board of Directors determined that the tender offeror's corporate value enhancement measures were more concrete and feasible, and resolved to recommend shareholders to participate in the tender offer.\n\n### Comparison with KKR Proposal and Conclusion of Procedures\nKKR submitted a legally binding letter of intent at 3,100 yen per share; however, the proposal was deemed abstract and not necessarily aligned with the Company\u2019s business strategy. The tender offeror\u2019s proposal included concrete initiatives for growth in the Indonesian business and brand portfolio restructuring, with faster execution capabilities. Accordingly, the Board resolved not to support KKR\u2019s tender offer and concluded the procedures.","jir_financial_highlights":"Tender Offer Price: 3,105 yen (3rd offer price revision (up from previous 2,600 yen))\nTender Offer Period: September 26, 2025 \u2013 February 12, 2026 (90 business days) (Multiple extensions)\nTotal Fundraising Amount: 149 billion yen (Unknown)","jir_category":"","jir_hashtags":"#MandomCorporation, #TenderOffer, #MBO, #KKR, #CVC","jir_key_figures":"Tender Offer Price (post 3rd revision): 3,105 yen (a 58.42% increase from previous 2,600 yen)\nTender Offer Period: September 26, 2025 \u2013 February 12, 2026 (90 business days)\nPlanned Fundraising Amount: 149 billion yen (60 billion yen loan from Mitsubishi UFJ Bank, 89 billion yen equity from CVC fund)","jir_meta_title":"Mandom Corporation Revises Tender Offer Price to 3,105 Yen; Board Recommends Participation (February 9, 2026)","jir_meta_description":"Mandom Corporation changed the tender offer price to 3,105 yen per share in the MBO by Caron Holdings. The Board assessed the proposal as superior to KKR\u2019s offer in terms of corporate value enhancement and recommended shareholders to participate.","jir_og_title":"Mandom Corporation Announces Tender Offer Price Change and Recommendation for Participation","jir_og_description":"The Board resolved that the tender offeror\u2019s proposal was superior to KKR\u2019s and recommended shareholders to participate.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":9332,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"tender_offer","footnotes":""},"sector":[],"importance":[],"class_list":["post-26208","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n