JTOWER Inc. Backs DB Pyramid’s Tender Offer

JTOWER, Inc. (JP:4485) has released an update.

JTOWER Inc. has expressed support for a tender offer from DB Pyramid Holdings, LLC to acquire its common shares and stock acquisition rights, recommending shareholders to tender their shares. The board’s decision is under the assumption that this will lead to the company going private and its shares being delisted. The tender offer includes a purchase price of 3,600 Japanese yen per common share and 1 Japanese yen per unit for various series of stock acquisition rights.

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