NTT Docomo to acquire Carta Holdings in tender offer

NTT Docomo (TSE:9432) intends to commence a tender offer to acquire all shares of Carta Holdings (TSE:3688), a digital marketing business. This move is part of a broader transaction aimed at delisting Carta and making NTT Docomo and Dentsu Group its sole shareholders. According to the "Notice of Expression of Opinion" announcement, the Carta Holdings Board of Directors supports the planned tender offer, recommending shareholders tender their shares. Additionally, Carta plans to enter into a Business and Capital Alliance Agreement with NTT Docomo and Dentsu Group, which includes Dentsu Group not tendering their shares. NTT Docomo plans to commence the tender offer in late August 2025, targeting a price of JPY 2,100 per common share. Following the tender offer, the company intends to request Carta implement squeeze-out procedures to achieve full ownership. Concurrent with this announcement, Carta Holdings revised its dividend forecast for the fiscal year ending December 2025 to JPY 0.00 and is abolishing its shareholder benefit program, citing the upcoming delisting as the reason.