Tokyo, Jan. 14 (Jiji Press)–Mandom Corp. said Wednesday that it has received a binding offer from U.S. investment fund KKR to acquire the Japanese cosmetics maker for 3,100 yen per share. KKR aims to launch a tender offer for Mandom shares by late January, Mandom said. In September, Mandom teamed up with British investment fund CVC Capital Partners to launch a tender offer for itself, aiming to take it private. The purchase price was initially set at 1,960 yen per share but was raised to 2,520 yen following opposition mainly from Aya Nomura, the eldest daughter of activist investor Yoshiaki Murakami. Mandom said it will “carefully consider” KKR’s proposed transaction. Mandom shares rose 262 yen, or 9.33 pct, to 3,070 yen on the Tokyo Stock Exchange’s Prime section on Wednesday. END [Copyright The Jiji Press, Ltd.]
KKR Offers to Acquire Mandom
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