On February 7th, KDDI was weak on the Tokyo stock market. On the 6th, the company announced that it would make a TOB (takeover offer) for Lawson, but there is skepticism in the market regarding the synergy effect. The photo is the KDDI logo. Photographed in Tokyo in 2022 (2024 Reuters)
[Tokyo, July 7 (Reuters)]- KDDI (9433.T), opens new tab stock has been weak. On the 6th, the company announced that it would make a takeover offer (TOB) for Lawson (2651.T), opens new tab, but there is skepticism in the market regarding the synergy effect. The stock price temporarily fell by 3.2% to 4,540 yen.
In the market, one domestic securities analyst said, “Since it is different from our core business, it is difficult to understand the synergies that will be worth the costs.” KDDI was originally perceived as being positive about share buybacks, but some are wary of whether the burden of TOB costs will affect its future stance on share buybacks.
On the other hand, Lawson stock moved towards the TOB price of 10,360 yen per share, and at one point rose 16.1% to 10,355 yen. KDDI aims to begin purchasing around April. After completing a series of procedures after the TOB is established, KDDI will ultimately own 50% of the voting rights, and Lawson’s parent company, Mitsubishi Corporation, will own 50%. The total amount acquired by KDDI is approximately 497.1 billion yen. Lawson shares will be delisted.
At a joint press conference on the 6th, KDDI President Makoto Takahashi revealed that the scheme was proposed by Mitsubishi Corporation (8058.T), opens new tab in May last year, saying, “We are in a period of change, so we decided to take the plunge.” “It’s a good investment,” he said. Convenience stores play an extremely important role as social infrastructure, and he said, “I would like to see the convenience stores of the future become a reality by fully utilizing the power of communication and DX that we have.”See more
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