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SoftBank and Bain Capital escalate bidding war for Kakaku.com

A coalition led by SoftBank’s LY Corp and Bain Capital has pushed the valuation of price-comparison giant Kakaku.com to 670 billion yen, or $4.12 billion, effectively tightening their grip in an intensifying takeover battle against Swedish investment firm EQT.

Today, 06:49Business Person2,392 views

The consortium increased its offer for all outstanding shares to 3,384 yen, up from the 3,232 yen proposal tabled in May. The bid carries a conditional kicker: the price will climb to 3,500 yen per share should KDDI Corp, a major shareholder, commit to supporting the deal.

Faced with this aggressive counter-move, Kakaku.com leadership shifted its position on Thursday. The company withdrew its formal recommendation for the EQT offer, which currently stands at 3,000 yen per share, and adopted a neutral stance. Management confirmed they will now enter parallel discussions with both parties to extract maximum value for stakeholders.

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