Mitsubishi Logisnext board backs delayed LVJ Holdings tender offer

The board of directors of Mitsubishi Logisnext Co., Ltd. announced its support for a tender offer by LVJ Holdings 2 LLC to acquire its common stock and share options. The tender offer price for common stock is JPY 1,537 per share, and JPY 1 per unit for share options. The offer is slated to commence around late December 2025, pending regulatory clearances in several jurisdictions including Japan, the United States, and the EU. Shareholders will ultimately decide whether to tender their shares.

The JPY 1,537 tender offer price represents a 14.04% discount to the closing price on September 29, 2025, but a 35.42% premium to the closing price on December 5, 2024, prior to speculative media reports. This two-stage acquisition process aims to take Mitsubishi Logisnext private. The company’s largest shareholder, Mitsubishi Heavy Industries, will not tender its shares but will participate in a subsequent share repurchase at JPY 1,081 per share.

An independent special committee and financial advisors were involved in the evaluation process, concluding that the transaction offers fair terms for minority shareholders, despite the current market discount. Mitsubishi Logisnext will also revise its dividend forecast to no dividend for the fiscal year ending March 31, 2026, and terminate its shareholder benefit program.