SoftBank’s LY Corp and Bain Capital have raised their bid for Kakaku.com, valuing the Japanese price-comparison website operator at 670 billion yen ($4.12 billion). This move widens their lead over a rival offer from Sweden’s EQT.
Details of the Bid
In the legally binding offer announced late on Wednesday, LY and Bain said they would raise their bid for all outstanding Kakaku.com shares to 3,384 yen apiece from 3,232 yen proposed in May. They said the offer would increase to 3,500 yen per share if KDDI Corp, one of Kakaku.com’s biggest shareholders, agrees to support the bid.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
