MITSUI & CO., LTD.

8031
Delayed Quote. Delayed  - 01/20 01:00:00 am
2860.5JPY +0.69%

Mitsui & Co., Ltd. submitted a letter of intent to acquire HUMAN ASSOCIATES HOLDINGS,Inc. from Daiwa PI Partners Co. Ltd., Morimoto Honten Co.,Ltd. and others for ¥3.2 billion.

11/15/2021 | 12:00am
Mitsui & Co., Ltd. (TSE:8031) submitted a letter of intent to acquire HUMAN ASSOCIATES HOLDINGS,Inc. (TSE:6575) from Daiwa PI Partners Co. Ltd., Morimoto Honten Co.,Ltd. and others for ¥3.2 billion on June 11, 2021. Under the terms of the consideration, shares will be acquired under tender offer for a payment of ¥915 per share. After the successful completion of the Tender Offer, the Squeeze-out Procedure to acquire the remaining stake. The transaction will be financed through a loan of ¥3.5 billion. Post completion of the transaction, Human Associates will operate as a wholly owned subsidiary of Mitsui. The transaction is subject to a minimum tender of 66.67%. The transaction has been approved by Human Associates board of directors. The tender offer will end on December 28, 2021. Human Associates establish a special committee consisting of three members, Yasuhiro Matsumura, Fumio Hoshi and Toshiaki Hiraga. SMBC Nikko Securities Inc. is acting as tender offer agent for Mitsui. Miyakezaka Sogo Law Offices acted as legal advisor for Human Associates. Plutus Consulting Co., Ltd. acted as financial advisor and fairness opinion provider for Mitsui. Anderson Mori & Tomotsune LPC acted as legal advisor for Mitsui.
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