February 28, 2011
ACA To Exit Investment In CSK
Sumisho Computer System Corporation (SCSC), an IT unit of Sumitomo Corp. Group, announced that SCSC and Sumitomo Corp, one of its major trading companies, will make a tender offer for CSK, a PE-backed information service company. ACA Investment, one of Sumitomo's investment units, is a 36.48% equity holder in CSK and approved the offer. ACA invested in September 2009. The TOB price is set at 203 yen, a 45% discount over its 3-month average. If the deal is successful, SCSC will merge with CSK.
Subscribe to:
Post Comments (Atom)
2 comments:
203 Yen is what the PE investors will get for their shares.
Yep, other investors will get their shares converted at 1 CSK share for 0.24 SCS share, with the new company starting from October 1st.
Post a Comment