Open house Group wraps up Pressance tender offer, expands portfolio

Open House Group (TSE:3288) has successfully completed its tender offer for Pressance Corporation (TSE:3254), acquiring 21,735,212 shares and increasing its stake to 94.74% of voting rights. Simultaneously, Open House is integrating its subsidiary, MELDIA, by having it acquire all shares of EIDAI Holdings, a move aimed at strengthening its housing business in the Tokyo metropolitan area. The EIDAI transaction, valued at 96,316 shares, positions EIDAI Holdings as an indirect subsidiary within the Open House Group. These parallel maneuvers bolster Open House's market presence. Open House plans to fully integrate Pressance and is considering future strategic steps. The company will announce more specifics after consulting with Pressance.