Itochu set to take Dentsu Soken private in $1.3 billion deal
Trading house Itochu plans to acquire Dentsu Soken for $1.3 billion, taking the IT services and consulting firm private and ending its parent-subsidiary listing with Dentsu Group. Dentsu Group will not tender its 62% stake but will collaborate with Itochu in managing the business post-acquisition.
Why it matters
This significant acquisition highlights a trend of major trading houses consolidating their portfolios and restructuring corporate relationships, impacting the IT services market and corporate governance in Japan.
Trading house Itochu has decided to launch a tender offer to take Dentsu Soken private in a deal that would end its parent-subsidiary listing structure with Dentsu Group.Itochu will acquire almost 75 million Dentsu Soken shares at ¥2,880 each, valuing the deal at roughly ¥215.2 billion ($1.3 billion), according to a statement on Monday.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in