US buyout fund Bain Capital plans to help Japanese outdoor goods maker Snow Peak go private under a management buyout worth 50 billion yen ($333 million), the Nikkei newspaper reported on Saturday, without citing sources.
Bain and the company will make a public tender offer, which will be announced as early as next week, the report said.
The offer price will be over 1,200 yen per stock, more than a 40% premium over Snow Peak’s close of 838 yen on Friday, the report said.
The company was worth 32 billion yen based on the Friday’s close.
Snow Peak said on Friday that the report on the management buyout, which was earlier reported by Mergermarket news, was not based on a company announcement.
Snow Peak, which sells mountain climbing and camping goods, reported a record profit in the year ended 2021, the report said.
Shares of Snow Peak, which went public in 2014, hit a record high of 4,490 yen in November 2021.
Reuters