Majority of Minority Shareholders at Sotsu Reject the Tender Offer by Bandai Namco

According to the regulatory filing on November 26, 2019, as many as 18% of Sotsu shareholders rejected the tender offer.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, November 27, 2019
Information
Tags: 
Banking, Professional services, Finance, Video game publishers, Companies, Video game companies, Economy of Japan, Sotsu, Namco, Bandai Namco Entertainment, Tender offer
Geotags: 
United States, Japan, Illinois
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Organisation: 
RMB CAPITAL
Summary
Key Points: 
  • According to the regulatory filing on November 26, 2019, as many as 18% of Sotsu shareholders rejected the tender offer.
  • It represents the majority of minority shareholders at Sotsu, given the 71.99 % shares collectively owned by Bandai Namco and Sotsu founding family.
  • RMB believes the tender offer was clearly not in the best interest of the minority shareholders at Sotsu.
  • RMB hopes that Bandai Namco and Sotsu will consider the result seriously and take appropriate actions to respect and protect Sotsus minority shareholders.


RMB Capital (“RMB”), an independent investment advisory firm, opposes the tender offer by Bandai Namco Holdings Inc. (7832 JP) to acquire a controlling stake in Sotsu Co., Ltd. (3711 JP). According to the regulatory filing on November 26, 2019, as many as 18% of Sotsu shareholders rejected the tender offer. It represents the majority of minority shareholders at Sotsu, given the 71.99 % shares collectively owned by Bandai Namco and Sotsu founding family. RMB believes the tender offer was clearly not in the best interest of the minority shareholders at Sotsu.

RMB hopes that Bandai Namco and Sotsu will consider the result seriously and take appropriate actions to respect and protect Sotsu’s minority shareholders.

About RMB Capital

Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit www.rmbcap.com.

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