FINWIRES · TerminalLIVE
FINWIRES

Update: Market Chatter: Bain Capital, LY Prepare Binding Bid for Kakaku.com

By

(Updates to add comment from Kakaku.com)

U.S. investment firm Bain Capital and internet company LY Corp. (TYO:4689) plan to submit a binding bid for comparison shopping website operator Kakaku.com Inc. (TYO:2371), Bloomberg News reported Friday, citing people familiar with the matter.

The bid would challenge Swedish private equity firm EQT AB's 3,000 yen-per-share tender offer, which values Kakaku.com at about 595 billion yen.

Bain Capital and LY Corp. are expected to raise their offer above EQT's bid. The two companies had previously offered 3,232 yen per share in May. Discussions are ongoing, and no final decision has been made, the report said.

Kakaku.com, in its response to' request for comment, declined to comment, stating that the report was not based on any announcement by the company.

Meanwhile, Bain Capital did not immediately reply to' request for comment.

Shares of Kakaku.com rose nearly 2%, while those of LY Corp. gained about 4% in Monday morning trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Media Reports: Small Aircraft Hits Citic Tower, Beijing's Tallest Skyscraper

Shanghai Composite^SZSE
Asia

China's Central Bank Plans Overnight Reverse Repo in End-June

The People's Bank of China will increase the overnight reverse repurchase operation in its open market operations on June 29 and June 30.The operation will adopt a fixed interest rate and quantity bidding, according to a Thursday statement.The new rate will be an addition to the PBOC's regular seven-day reverse repo rate, currently at 1.4%, which has served as the main policy benchmark since 2024, Bloomberg reported.Standard Chartered's Becky Liu said the move is a major step toward aligning with U.S. policy rate structures, according to the report. She added that the overnight reverse repo rate is the figure to watch and anything at 1.25% or below would amount to a de facto PBOC rate cut.

Shanghai Composite^SZSE
Asia

Hong Leong Bank Sells 640 Million Ringgit Bonds

Hong Leong Bank (KLSE:HLBANK) issued 640 million ringgit of bonds divided into two tranches, according to a Friday Malaysian bourse filing.The issue comprised 350 million ringgit of 10-year bonds carrying an interest rate of 3.9% per annum, and 290 million ringgit of 12-year bonds carrying a 4% interest rate.The call dates for the two tranches will be June 26, 2031, and June 27, 2033, respectively.The bonds were issued under the lender's multi-currency tier 2 subordinated bond program.

KLSE:HLBANK