Advantage Partners VI, a fund managed by Advantage Partners, Inc. made an offer to acquire 65.3% stake in PiPEDO HD, Inc. (TSE:3919) for ?14.3 billion on September 30, 2021. Under the terms, 5.1 million shares are planned to be purchased, with minimum number of shares to be purchased as 1.8 million shares. ?2,800 will be paid per common share and ?175,100 per stock acquisition right. The board of directors of PiPEDO supported the offer and resolved to encourage the shareholders to support the offer. At the board of directors meeting held on July 15, 2021, PiPEDO resolved to establish this special committee to be composed of Koji Tsurumoto, who we believe has a high degree of insight, Takeshi Omura and Nobuaki Watanabe independent of PiPEDO and the Tender Offeror. Offer will run from October 1, 2021 to November 15, 2021. Nishimura & Asahi acted as a legal advisor and Nomura Securities Co., Ltd. acted as a financial advisor and Daiwa Securities Co. Ltd. acted as tender purchase agent for PiPEDO.