WealthNavi (TYO:7342) has endorsed MUFG Bank's (TYO:8306) tender offer to acquire its shares and stock acquisition rights, recommending shareholders tender their securities, according to a Friday filing on the Tokyo Stock Exchange.
The offer, set at 1,950 yen per share, is part of MUFG's plan to take WealthNavi private and delist its stock.
The decision follows a board meeting where directors unanimously approved the offer. MUFG currently holds 15.13% of WealthNavi's shares and has been in a partnership with the company since February.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments