HASEKO Corporation (TSE:1808) made an offer to acquire Hosoda Corporation (JASDAQ:1906) from a group of sellers for ¥2.4 billion on December 19, 2019. Under the terms of transaction, HASEKO Corporation will acquire 18.7 million shares at ¥130 each. Upon completion, Hosoda Corporation will become wholly owned subsidiary of HASEKO Corporation and the shares will be delisted. The offer is subject to a minimum tender of 12.5 million shares. Nobuo Ogura, Yasuhiro Takahashi and Yohei Kishi were part of special committee. The tender offer will run from December 20, 2019 till February 4, 2020.

KPMG FAS Co., Ltd. acted as financial advisor and Kitahama Partners acted as legal advisor to HASEKO Corporation. Advanced Business Directions Co., Ltd acted as a third-party appraiser. Atsumi & Sakai acted as legal advisor to Hosoda Corporation. Daiwa Securities Co., Ltd. acted as tender offer agent in the transaction.

HASEKO Corporation (TSE:1808) completed the acquisition of 89.73% stake in Hosoda Corporation (JASDAQ:1906) from a group of sellers for ¥2.2 billion on February 4, 2020. 16.8 million shares were tendered.