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SoftBank Plans To Merge Yahoo Japan With Messaging Service Line Corp.

November 17, 2019 — 11:30 pm EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - SoftBank Group Corp. plans to merge its internet unit Yahoo Japan with the messaging service Line Corp.

Japan's SoftBank and South Korea's Naver Corp. will first take Line Corp private through a tender offer at an estimated price of 5,200 yen per share. The proposed tender offer price represents a 13.41% premium on the closing price of the Common Shares on TSE on November 13, 2019.

Z Holdings Corp., a unit of SoftBank's telecom arm formerly known as Yahoo Japan, and Line plan to merge in October 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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