SoftBank LY and Bain Raise Bid for Kakaku.com Again
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SoftBank's LY Corp and Bain Capital raised their Kakaku.com takeover bid to ¥3,384 per share, valuing the price-comparison site at roughly $4.12 billion and widening the gap over rival bidder EQT; Kakaku.com has withdrawn its recommendation for EQT and shifted to a neutral stance.
How much higher is the new bid?
LY and Bain lifted the per-share offer from ¥3,232 in May to ¥3,384 — a 4.7% bump — for a total valuation of roughly ¥670 billion (~$4.12 billion).
Sweden's EQT still sits at ¥3,000 per share, leaving a gap of ¥384 per share.
This means → the LY-Bain side is using real money to force EQT to either match or walk away.
Why is there a conditional "even higher" price?
LY and Bain added a trigger clause: if KDDI, a major Kakaku.com shareholder, backs the deal, the offer rises further to ¥3,500 per share.
In plain terms = it is a "support us and we pay more" tactic that turns KDDI from bystander into the player who sets the final price.
Reuters reports the ¥3,384 bid is legally binding, not exploratory.
Where does Kakaku.com itself stand now?
On Thursday Kakaku.com withdrew its earlier recommendation that shareholders support EQT, shifting its stance to "neutral."
The company said it will negotiate with both bidders simultaneously, while still maintaining its support relationship with EQT.
This means → Kakaku.com says "we're talking to both sides," but pulling the recommendation is itself a signal tilting toward the higher bid.
What to watch next?
KDDI's decision is the pivotal variable — it determines whether the final price lands at ¥3,384 or ¥3,500 per share.
If EQT does not raise its offer, the ¥500-per-share gap leaves it with almost no path to win.
This reflects a heating M&A contest for Japanese tech assets, with bidders willing to keep raising the stakes for quality targets.
Content is for reference only, not financial advice.