Dai-ichi Life Holdings, Inc. (TSE:8750) made an offer to acquire ipet Holdings, Inc. (TSE:7339) from the shareholders for Ñ39 billion on November 7, 2022. Dai-Ichi will acquire 10.99 million shares at Ñ3550 each. The transaction is subject to a minimum of 7.3 million shares to be tendered. The board of ipet Holdings recommends the shareholders to tender their shares during the offer. The tender offer will commence on November 8, 2022, and close on December 20, 2022. As of December 19, 2022, Tender offer is expected to close on January 10, 2023.
Nomura Securities Co., Ltd. acted as financial advisor to Dai-ichi Life Holdings, Daiwa Securities Co. Ltd. acted as financial advisor to ipet Holdings, Inc and Iwata Godo Attorneys and Counselors at Law acted as legal advisor to ipet Holdings, Inc. BofA Securities Japan Co., Ltd. and Mizuho Securities Co., Ltd. acted as financial advisor to Dai-ichi Life. Nishimura & Asahi acted as a legal advisor to Dai-ichi Life.