October 12, 2011
Major Ad. Company To Launch Tender Offer For Outsourcing Company
Hakuhodo Inc., a listed major advertising company, announced that the ad. agency will launch a tender offer for shares of Backs Group Inc., a listed retail-oriented outsourcing company. The TOB price is set at 2,500 yen, a 49.53% premium over a 3 month average. The CEO(the largest shareholder) and his group approved the offer. Hakuhodo will beef up the marketing solution business through this acquisition.
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This offer was recently extended. Know of the reasons?
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