Skip to content
Home / News |

Tokyo Dome Share Price Soars Nearly 17% After Being Acquired By Mitsui Fudosan for $1.2bln

Tokyo Dome stadium
Nigel F

Shares of Tokyo Dome Corp (T: 9681) closed the day 16.72% higher after property developer Mitsui Fudosan paid $1.2 billion to acquire the ballpark operator.

Mitsui Fudosan agreed to pay 120.5 billion yen ($1.2 billion) in a tender offer to acquire Tokyo Dome, which owns the home stadium of the Yomiuri Giants baseball team.

The deal is based on a share price of 1,300 yen, which is a premium of 45% compared to yesterday’s closing price. Mitsui was forced to pay a premium price to acquire Tokyo Dome amid interest from Oasis Management fund, which offered to pay the same price per share in January.

This is a classic “white-knight” deal, where an investor acquires a company with the support from its board in order to prevent a hostile takeover. Mitsui will delist all shares of Tokyo Dome once the takeover is completed.

“Tokyo Dome must have thought Mitsui Fudosan is a better partner while it was under fire by a foreign activist, as Mitsui is a famous Japanese group and is unlikely to hit hard on the company,” Ichiro Kurihara, a director of Tachibana Securities.

Tokyo Dome share price soars after being taken over by Mitsui Fudosan November 2020

Tokyo Dome share price exploded nearly 17% to 1,047 yen to hit a 10-month high.

PEOPLE WHO READ THIS ALSO VIEWED:

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.