Bain launches discount tender offer for Japanese mobile retailer T-Gaia
FILE PHOTO: The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO :Bain Capital on Monday launched a tender offer for Japanese cell phone retailer T-Gaia at 2,670 yen per share, a 26.5 per cent discount to T-Gaia's Friday close price.
Bain Capital has agreed with T-Gaia's major shareholders Sumitomo Corp and Hikari Tsushin to take the company private, T-Gaia said in a corporate disclosure.
Bain will spend a total of more than 140 billion yen ($987 million) to take T-Gaia private, the Nikkei business daily, which first broke the news, reported.
Tokyo Stock Exchange temporarily suspended the trade of T-Gaia shares, which spiked nearly 9 per cent after the Nikkei report.
($1 = 141.7900 yen)
