LIKE Co., Ltd. completed the acquisition of an additional 43.37% stake in LIKE Kids,Inc. for ¥4.6 billion.
LIKE Kids' Board of Directors meeting held on June 9, 2020 and expressed its supportive opinion regarding the tender offer and recommended that all shareholders to apply for the tender offer. The transaction is not intended to solicit the approval of LIKE Kids' shareholders at the extraordinary general meeting of shareholders. Tender offer will run from June 10, 2020 to July 21, 2020. Plutus Consulting Co., Ltd. acted as financial advisor and Nishimura & Asahi acted as legal advisor to Special Committee formed by LIKE Kids to advice in the transaction. SMBC Nikko Securities acted as financial advisor and tender offer agent while TMI Associates acted as legal advisor to LIKE Co., Ltd.
LIKE Co., Ltd. (TSE:2462) completed the acquisition of an additional 43.37% stake in LIKE Kids,Inc. (TSE:6065) for ¥4.6 billion on July 21, 2020. A total of 4.5 million shares were acquired in the transaction and LIKE Co., Ltd. now holds 93.5% stake in LIKE Kids. The payment start date for the tender offer is July 29, 2020.