Kakaku.com (TYO:2371) said it received notice from investment funds Bain Capital and LY Corp. that Blitz Cayman plans to wait for the expiry of a competing tender offer before proceeding with its own offer, according to a Tokyo Stock Exchange filing on Monday.
The Japanese internet media company said BCPE Blitz's proposed offer stood at 3,520 yen per share as of Aug. 21, against Kamgras 1's 3,570 yen offer.
BCPE Blitz could offer 3,640 yen if it secures a non-tender agreement with its shareholder KDDI Corporation after its tender agreement with major shareholder Oasis Management terminated on Aug. 20.
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