MBKP Life LLC offered to acquire Tsukui Holdings Corporation (TSE:2398) for ¥49.1 billion from a group of shareholders on February 8, 2021. Under the terms, 53 million shares of Tsukui will be acquired at an offer price of ¥924 per share. Post completion, Tsukui will operate as a wholly owned subsidiary of MBKP Life LLC. The transaction constitutes a minimum tender percent of around 55%, representing 29,316,000 shares. If offeror receives a valid tender of more than 55% stake in Tsukui Holdings Corporation, offeror will commence a squeeze out to acquire remaining shares in Tsukui Holdings Corporation. The transaction is approved by the Board of Tsukui Holdings Corporation. The transaction is expected to close on March 24, 2021. Daiwa Securities Co. Ltd. acted as tender offer agent in the transaction.