Mitsubishi UFJ Nicos launches tender offer for Zenhoren shares

Mitsubishi UFJ Nicos, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group (MUFG, TSE: 8306), announced today the commencement of a tender offer for shares of Zenhoren Co., Ltd. (TSE: 5845), a company specializing in rental debt guarantees. MUFG intends to increase its retail customer base and lifetime value by leveraging Zenhoren’s business. The tender offer price is set at ¥1,000 per share. The acquisition targets a minimum of 11,661,185 shares (44.36%) and a maximum of 13,026,385 shares (49.55%). MUFG has already secured agreements with major shareholders representing 33.59% of Zenhoren's outstanding shares, committing them to tender their shares. Furthermore, MUFG will inherit a further 1.46% from Mitsubishi UFJ Factors. Zenhoren's board has expressed its support for the tender offer while maintaining a neutral stance on shareholder participation. MUFG expects to complete the acquisition and delist Zenhoren shares.