KDDI’s Tender Offer for Lawson Ends Successfully

Tokyo, April 27 (Jiji Press)--Major Japanese telecommunications carrier KDDI Corp. has said that its tender offer for convenience store operator Lawson Inc. has ended successfully.

KDDI will purchase 39 pct of Lawson shares tendered by Thursday for about 400 billion yen. As a result, the company will hold a 41 pct stake in Lawson on May 7 and make Lawson an equity-method affiliate.

A majority of Lawson shares are currently held by its parent, major trading house Mitsubishi Corp. KDDI will take procedures to further raise its stake in Lawson to equally own it with Mitsubishi and take it private.

The tender offer began March 28, with Lawson shares offered at 10,360 yen apiece. The tender ratio set as a condition for the successful completion of the offer was 14.43 pct.

KDDI hopes to expand Lawson’s business using its communication and digital technologies.

[Copyright The Jiji Press, Ltd.]