The Yomiuri Shimbun Group Inc. made a tender offer to acquire remaining 83.7% stake in Yomiuri Land Co., Ltd. (TSE:9671) for ¥38.9 billion on November 5, 2020. The Yomiuri Shimbun Group Inc. is acquiring 6.43 million shares at a price of ¥6,050 per share. The Yomiuri Shimbun Group Inc. directly own 1.25 million shares in Yomiuri Land Co., Ltd., representing 16.27% stake. Post completion of the transaction, Yomiuri Land Co., Ltd. will become a wholly owned subsidiary of The Yomiuri Shimbun Group. The Yomiuri Shimbun Group Inc. has set the minimum number of shares to be purchased to be 3.87 million shares, representing 50.39% stake. The transaction is approved by Board of Directors of Yomiuri Land Co., Ltd. Yomiuri Land Co., Ltd. has made a special committee to consider the offer. The tender offer period starts from November 9, 2020 to December 21, 2020. Nomura Securities Co., Ltd. acted as financial advisor for The Yomiuri Shimbun Group Inc. and Yomiuri Land Co., Ltd. Daiwa Securities Co. Ltd and Plutus Consulting Co., Ltd. acted as financial advisors and City-Yuwa Partners and Mori Hamada & Matsumoto LPC acted as legal advisors for Yomiuri Land Co., Ltd.