NTT Docomo said Thursday that it will launch a friendly tender offer to acquire all shares of MAGASeek Corp, the operator of the MAGASEEK fashion-goods shopping website, with approval from its parent company Itochu Corp.
The tender offer period will last from Jan 31 to March 14 and is contingent upon Docomo acquiring a minimum 8,829 shares, or approximately 41.67% of MAGASeek’s total shares. Itochu has agreed to tender 8,342 shares, or approximately 39.37% of MAGASeek’s 13,640 total common shares, and will continue to hold 5,298 shares, or approximately 25.00% of MAGASeek’s common shares.
MAGASEEK is one of Japan’s leading websites for fashion goods and has a considerable user base, mainly female customers in their 20s and 30s. Docomo said it expects to build business synergies in customer satisfaction and shopping convenience by linking MAGASEEK’s services with its 60 million customers, cloud services and business expertise.