Mandom raises MBO offer price, extends tender period

Mandom Corporation has revised its MBO offer, increasing the tender price from JPY 1,960 to JPY 2,520 per share. This adjustment aims to enhance the offer's attractiveness and ensure the MBO's successful completion. The tender offer period has been extended from November 19, 2025, to December 18, 2025, to accommodate these changes and allow shareholders more time to make a decision.

The company's board of directors, acting on the special committee's advice, maintains its support for the MBO. However, the board has shifted to a neutral stance regarding recommending shareholders tender their shares, leaving the decision to individual shareholders' discretion, while acknowledging the offer's attractive price.

The revised offer price of JPY 2,520 represents a substantial premium over Mandom's market share prices, including a 67.66% premium over the closing price of JPY 1,503 on September 9, 2025. This revised offer is intended to maximize shareholder value and facilitate the company's delisting from the Tokyo Stock Exchange Prime Market.