Japan’s KDDI, Mitsubishi Corp to launch tender offer to take Lawson private

Japanese mobile carrier KDDI Corp is planning to launch a tender offer along with trading company Mitsubishi Corp for convenience store chain Lawson 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.

Reuters

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