YAHOO, Japan, $830 Million To Buy One Stop Travel Website
Recently, I was told that
YAHOO
Japan announces acquisition of up to 100 billion 200 million yen (US $830 million)
Japan
Ikyu, a tourism website, aims to expand tourism and hotel reservation business.
YAHOO and Softbank hold 35.5% and 36.4% of YAHOO Japan respectively.
YAHOO said in a statement that it would offer 3433 yen per share to acquire Ikyu, which is about 42% higher than its closing price on Tuesday.
The US Yahoo Corp is considering how to deal with the shares of YAHOO Japan, which are calculated according to the current exchange rate.
Shares
It costs about 8 billion 500 million dollars.
YAHOO has shelved the plan to sell its Alibaba shares, but consider setting up an independent subsidiary to hold the remaining assets.
YAHOO Japan said that the tender offer Ikyu will begin in December 16th with a deadline of February 3rd next year.
This is the second acquisition made by Nikesh Arora, YAHOO's president, in June when it was appointed chairman of YAHOO Japan.
This year YAHOO Japan has been diversifying its business, investing in BuzzFeed and buying SONY's real estate sector.
Beginning in 1997, YAHOO Japan has been running its own Yahoo! Travel service. In February this year, it announced the revision and directly operated the hotel reservation business.
Ikyu President Masafumi Mori agreed to sell 41% of his holdings, while Mori Trust, the second largest shareholder of the company, will also sell shares.
Shares of YAHOO and Japan have risen by 15% this year.
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