Fuji Media Holdings Inc., the parent company of Fuji Television Network Inc., said Thursday it has successfully completed a tender offer for shares of Cecile Co., a mail-order retailer, to enhance its mail-order operations.
The holding company said its Fuji Media Service arm received an offer of 33.82 million Cecile shares equal to 78.08 percent of the retailer's outstanding shares. It will buy all of the offered shares for about ¥6 billion, or ¥180 per share.
The friendly tender offer for shares of the mail-order retailer, based in Takamatsu, Kagawa Prefecture, was implemented on the Tokyo Stock Exchange from May 15 through July 1.
Cecile's parent company, LDH Corp., the successor of Livedoor Co., and an LDH subsidiary offered their shareholdings equivalent to 56.31 percent of all Cecile shares, according to Cecile.
Fuji Media Holdings, which has run its own mail-order marketing firm, Dinos Inc., under its wing, plans to engineer a merger between Cecile and Dinos, which has been marketing merchandise, including furniture, interior and sundry goods, via television and newspaper advertising.