Kadoya Seiyu (2612) said ITG-G Holdings has extended its tender offer for the company to Nov. 13 from Oct. 30, for a total of 39 business days, after Kadoya received a legally binding take-private proposal from another fund, with the offer price unchanged at ¥2,514 per share.
ITG-G Holdings launched the tender offer on Sept. 15, 2026, with the aim of taking Kadoya Seiyu private. Kadoya announced on Sept. 14 that it supported the offer and recommended shareholders tender their shares; the Oct. 29 notice amends that announcement.
On Oct. 28, Kadoya disclosed that it had received on Oct. 27 a legally binding proposal from "Company C," a fund participating in its review of acquisition proposals, to take the company private through a tender offer and a subsequent squeeze-out. That required ITG-G to file an amended tender offer registration statement, and under the law the offer period was extended to Nov. 13, 10 business days after the Oct. 29 filing. ITG-G said Kadoya had not disclosed Company C's identity but that it surmises the fund is Advantage Partners.
| Item | Before | After |
|---|---|---|
| Offer period | Sept. 15-Oct. 30 (30 business days) | Sept. 15-Nov. 13 (39 business days) |
| Offer price | ¥2,514 per share | ¥2,514 per share |
ITG-G has been in talks since Sept. 15 with Kadoya's two largest shareholders, Mitsubishi Corp. (26.88%) and Mitsui & Co. (21.92%). If Mitsubishi agrees not to tender any of its shares and instead sell them in a share buyback by Kadoya, ITG-G plans to raise the offer price to ¥2,644 and lower the minimum from 13,847,100 shares to 6,416,100 shares. A similar agreement with Mitsui would lift the offer price to ¥2,620 and cut the minimum to 7,788,600 shares.
The tender offer is now scheduled to close on Nov. 13, 2026.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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