Blackstone Launches $1.74 Billion Bid to Take Infocom Private

Blackstone has announced a 275.8 billion yen ($1.74 billion) bid to take Infocom, a Japanese digital comic distributor, private. This move includes a tender offer at a per-share price of 6,060 yen, Infocom revealed on Tuesday.

Tender Offer and Stake Sale:

The tender offer amounts to 141.4 billion yen. Infocom’s parent company, Teijin, has stated it will sell its entire 58% stake in Infocom for 134.4 billion yen in a share buyback following the buyout’s completion.

Infocom operates Mecha Comic, one of Japan’s largest digital comic sites, reflecting its significant presence in the digital entertainment sector.

Rising Global Investor Interest in Japan:

Global investor interest in Japanese companies has surged due to the weak yen, strong public markets, and improvements in corporate governance, making mergers and acquisitions (M&A) increasingly attractive.

According to LSEG data, M&A activity in Japan hit a record $35.5 billion in 2023. Blackstone stated that the Infocom deal is the largest private equity transaction in Japan this year.

Infocom’s Share Price Surge:

Since the potential buyout was first reported last month, Infocom’s share price has more than doubled, closing at 6,030 yen on Tuesday, up from below 3,000 yen in early May.

Teijin, a conglomerate with businesses in chemicals, healthcare, and internet services, expects to book a 105 billion yen profit on a consolidated basis from the sale of Infocom in the financial year ending March 2025.