February 13, 2017 / 9:02 AM / 9 months ago

BRIEF-Usen says ToB offered by U-NEXT's unit U-NEXT SPC1

Feb 13 (Reuters) - Usen Corp :

* U-Next Corp’s wholly owned unit U-NEXT SPC1 is offering a takeover bid for 134,616,160 shares (or no less than 71,465,300 shares, 34.68 percent stake) of Usen Corp’s stock, at the price of 461 yen per share

* U-NEXT SPC1 will hold 65.33 percent stake in Usen Corp (1.35 million voting rights), up from 0 percent (1 voting rights)

* Total acquisition amount is 62.06 billion yen for 134,616,160 shares

* Say the offering period from Feb. 14 to March 28

* Settlement date is April 4

* U-NEXT also enters into letter of intent on business integration with Usen, which is expected to take effect on Dec. 1

Source text in Japanese: goo.gl/YS9fC0 ; goo.gl/TaFaYl

Further company coverage: (Beijing Headline News)

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