Fuji Media successfully completes tender offer for Cecile Co.
Fuji Media Holdings Inc., the parent company of Fuji Television Network Inc., said Thursday it has successfully completed a tender offer for shares of Cecile Co., a mail-order retailer, to enhance its mail-order operations.
The holding company said its arm Fuji Media Service received an offer of 33.82 million Cecile shares equal to 78.08 percent of the retailer's outstanding shares. It will buy all of the offered shares for about 6 billion yen, or 180 yen per share.
The friendly tender offer for shares of the mail-order retailer, based in Takamatsu, Kagawa Prefecture, was implemented on the Tokyo Stock Exchange from May 15 through July 1.
Cecile's parent company, LDH Corp., the successor of Livedoor Co., and a LDH subsidiary offered their shareholdings equivalent to 56.31 percent of all Cecile shares, according to Cecile.
Fuji Media Holdings, which has run its own mail-order marketing firm, Dinos Inc., under its wing, plans to engineer a merger between Cecile and Dinos, which has been marketing merchandise such as furniture, interior and sundry goods via television and newspaper advertising.
Cecile, founded in 1974, incurred a net loss in the business year ended last December for the second consecutive year.
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|Publication:||Japan Weekly Monitor|
|Date:||Jul 6, 2009|
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