Nichii Gakkan To Tender Offer For English School Operator

Nichii Gakkan Co., a broad-range service provider in medical support & health care, announced that Nichii Gakkan made a tender offer for GABA, a listed English language school operator, at 2.000 yen, a 77.1 % premium over a 3-month average. GABA approved the tender offer. The Bank of Tokyo Mitsubishi-UFJ is ready to provide up to 10.1 billion yen in financing. Nichii Gakkan plans to expand its education business in English and IT in addition to medical sectors and utilize GABA's e-learning systems through this acquisition.