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Update: Market Chatter: Bain and LY Corp. Prepare to Counter EQT's Bid for Kakaku.com

By

(updated with Kakaku.com's response)

Bain Capital and LY Corp. are poised to submit a higher joint offer for Kakaku.com (TYO:2371) than EQT's recent 3,450 yen-per-share proposal, Bloomberg News reported on Friday, citing sources familiar with the matter.

An improved bid could surface within days, but deliberations are still confidential and inconclusive, with no binding decision made and the outcome subject to change, Bloomberg said.

EQT has extended its tender offer deadline to August 3 amid ongoing discussions with Kakaku's Hong Kong-based shareholder, Oasis Management, the publication said.

Kakaku.com declined to comment, while Bain Capital and LY Corp. did not immediately respond to' request for comment.

(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.)

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