Investment firm Nikko Principal Investments Japan Ltd. said Monday it will launch a takeover bid for the outstanding common stock of Tokyo-based Bellsystem24 Inc. beginning Tuesday to make the call-center operator a wholly owned subsidiary.
Nikko Principal currently has a 71.73 percent equity stake in Bellsystem24 after it purchased all of the shares owned by information services provider CSK Corp. and new shares issued by Bellsystem24, both earlier this year, the investment arm of Nikko Cordial Corp. said.
The new offer will be made at a cash price of 28,000 yen per share for a period of about one month through Oct. 27, Nikko Principal said.
If the company cannot acquire all Bellsystem24 shares through the takeover bid, it plans to make the firm a wholly owned subsidiary through an exchange of stocks, it said.
Bellsystem24, capitalized at 62.18 billion yen, is listed on the first section of the Tokyo Stock Exchange.
On Monday, the TSE placed Bellsystem24 shares on the monitoring post as its stock would be delisted from the exchange after the company becomes Nikko Principal's wholly owned subsidiary.