Yahoo-Line Merger Expected for Next March
Tokyo, Aug. 3 (Jiji Press)--Z Holdings Corp. <4689>, the parent of Yahoo Japan Corp., said Monday that its merger with messaging app provider Line Corp. <3938> is expected for around March 2021.
The two sides originally planned the business integration for October this year. But the move was put back as antitrust reviews were delayed around the world due to the coronavirus pandemic.
SoftBank Corp. <9434>, the parent of Z Holdings, said the same day that antitrust authorities in the United States, Taiwan and South Korea have finished their reviews of the integration plan, and that Japan's Fair Trade Commission is expected to join them soon.
The planned tender offer for Line, to be conducted as part of the integration, will run from Tuesday until Sept. 15, also later than the previously planned period of May to June.
In the tender, SoftBank and South Korea's Naver Corp., which owns Line, will offer 5,380 yen per share as planned.
[Copyright The Jiji Press, Ltd.]