Tokyo, May 14 (Jiji Press)–Japan’s LY Corp. said Thursday it and U.S. investment fund Bain Capital have jointly proposed acquiring Kakaku.com Inc., in a move to counter Swedish investment fund EQT AB’s tender offer for the operator of the Tabelog user-generated restaurant review website. LY, which operates messaging app Line and internet portal Yahoo! Japan, and Bain Capital submitted the proposal to Kakaku.com on Wednesday, offering to buy all shares in the company at 3,232 yen apiece to take it private. The bid price is higher than the 3,000 yen proposed by EQT. The fund has already launched its tender offer. Kakaku.com, listed on the Tokyo Stock Exchange’s top-tier Prime section, expressed support for EQT’s bid on Tuesday. END [Copyright The Jiji Press, Ltd.]
LY Eyes Counterbid for Tabelog Operator
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