Japan’s KDDI, Mitsubishi Corp Plan Tender Offer to Take Lawson Private

Reuters

16:26 JST, February 6, 2024

TOKYO (Reuters) – Japanese mobile carrier KDDI Corp 9433.T is planning to launch a tender offer along with trading company Mitsubishi Corp 8058.T for convenience store chain Lawson 2651.T to take it private, it said on Tuesday.

Lawson is currently a subsidiary of Mitsubishi Corp,which holds just over 50% of Lawson’s shares. If the deal goes through both KDDI and Mitsubishi Corp would hold 50% of Lawson’s shares.

The companies plan to commence the offer in April this year.

The tender offer is expected to be worth around 500 billion yen ($3.37 billion), Japan’s Nikkei newspaper reported.

$1 = 148.4600 yen