Pressance Corporation (TSE:3254) agreed to acquire 40.17403% stake in MELDIA Development & Construction CO., LTD. (TSE:1739) for ¥2.7 billion on October 27, 2023. MELDIA Development & Construction board approved the deal. The transaction is subject to approval of shareholders of MELDIA Development & Construction.

As part of tender offer, Pressance Corporation planned to purchase 2,445,120 shares for ¥1,095 per share. Tender offer period starts on December 25, 2023 and ends on February 13, 2024. MELDIA Development & Construction established special committee consisting of five members Fumiaki Kuhori, Yoshihiko Maeda, Shigeki Higashii, Hiroki Koike, and Kazunari Konishi.

SMBC Nikko Securities Inc. acted as financial advisor and Anderson Mori & Tomotsune LPC acted as legal advisor to Pressance Corporation. Tokai Tokyo Securities Co., Ltd. acted as financial advisor and Oh-Ebashi LPC & Partners acted as legal advisor to MELDIA Development & Construction.