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Bain Capital Private Equity announced today it has filed a tender that will post tomorrow with the Tokyo Stock Exchange to purchase the common shares of Asatsu-DK, Japan’s third-largest agency by market share. Bain Capital plans to purchase all shares from current shareholders, including holding company WPP, which is currently the top shareholder in the agency.
According to company statement, the U.S.-based private equity firm is making the offer with “a view to privatizing the business and delisting it from the TSE,” citing the agency’s “highly competitive offer in digital advertising and a unique content business with market leading animation capabilities” as reasons for the purchase.
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