A consortium including SoftBank’s LY Corp. and U.S. private equity firm Bain Capital announced on Monday it has raised its acquisition offer for the Japanese price-comparison website operator Kakaku.com. The new bid values the company at 670 billion yen ($4.12 billion), escalating the competition with a rival offer from Swedish investment firm EQT.
The revised proposal represents the second increase from the LY Corp. and Bain Capital consortium. The offer was submitted to Kakaku.com’s board of directors for consideration. This move places additional pressure on EQT, which had previously entered the bidding process for the prominent e-commerce platform.
In a regulatory filing, the consortium detailed the terms of its latest non-binding offer. The companies stated the proposed acquisition would support Kakaku.com’s long-term growth by leveraging LY Corp.’s extensive digital ecosystem and Bain Capital’s global investment experience.
Kakaku.com acknowledged receipt of the updated offer in a public statement. The company confirmed its board would “carefully review and evaluate the proposal” to determine the course of action that best serves the interests of the company and its shareholders. The board has not yet provided a timeline for its decision.
The bidding for Kakaku.com highlights investor interest in Japanese technology firms with established user bases. Kakaku.com operates one of Japan’s most visited websites, allowing consumers to compare prices and read user reviews for a wide range of products and services, from electronics to restaurants.
Representatives for EQT have not issued a public comment in response to the increased bid from the LY-Bain consortium. The firm’s last known offer stood as the leading bid before the most recent increase was announced.
Following the announcement, shares of Kakaku.com saw an increase in trading on the Tokyo Stock Exchange. The developing situation will be monitored by market analysts as Kakaku.com’s board weighs the competing proposals.
