Tender offer · TOB · Closed
GMO Prime Strategy Co., Ltd.5250
Acquirer: GMO internet group, Inc. · Sector: Information & Communication · Tender offer filing date: 2025-11-26 · Open on EDINET · Deal data (JSON)
Valuation ranges vs the offer price
Value-per-share range from each valuer (colour shows who engaged them) and the offer price (vertical line). Values and sources are in the table below.
Acquirer
Deal characteristics
- Category
- Partial offer (stays listed) [3]
- Acquirer type
- Strategic buyer[4]
- Auction (chosen from several bidders)
- Not stated
- Competing proposal
- Not stated
- Special committee
- Not stated
- Valuer engaged by the special committee
- Not stated
- Fairness opinion
- Not stated
Offer price negotiation
From the acquirer's first proposal of ¥1,600 to the offer price of ¥1,600: 0.0% (1 distinct proposed prices).
| Date | Proposed by | Price per share |
|---|---|---|
| — | Target / special committee (request) | ¥1,600[5] |
| 2025-10-08 | Acquirer | ¥1,600[6] |
Offer terms
| Item | Value | History |
|---|---|---|
| Offer price per common share | ¥1,600 [1] | — |
| Minimum shares | 1,849,400 shares [7] | — |
| Maximum shares | 2,214,800 shares [8] | — |
| Shares tendered | 2,302,610 shares [9] | — |
Premiums (as stated in filings)
| Basis | As of | Value |
|---|---|---|
| Closing price on the business day before announcement | 2025-11-21 | 79.5%[2] |
| 1-month simple average closing price | 2025-11-21 | 74.3%[10] |
| 3-month simple average closing price | 2025-11-21 | 67.5%[11] |
| 6-month simple average closing price | 2025-11-21 | 57.5%[12] |
Premiums are as stated in the filings (not recalculated from market prices).
Valuations
| Valuer | Engaged by | Method | Value per share | Discount rate | Perpetual growth rate |
|---|---|---|---|---|---|
| Deloitte Tohmatsu Financial Advisory LLC | Acquirer | DCF method | Value per share ¥1,267 〜 ¥1,730[13] | Discount rate — | Perpetual growth rate — |
| Deloitte Tohmatsu Financial Advisory LLC | Acquirer | Market price method (市場株価平均法) | Value per share ¥890 〜 ¥1,016[14] | Discount rate — | Perpetual growth rate — |
Timeline (filings)
| Filing | Date | Filer | docID |
|---|---|---|---|
| Tender Offer Registration Statement | 2025-11-26 | GMO internet group, Inc. | S100X09O |
| Position Statement | 2025-11-26 | GMO Prime Strategy Co., Ltd. | S100X6RD |
| Tender Offer Report | 2025-12-24 | GMO internet group, Inc. | S100XCB4 |
Sources
- Tender Offer Registration Statement (S100X09O) 2025-11-26
Original text (Japanese): 本公開買付価格を１株当たり1,600円とすることを決定いたしました
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 本公開買付けの公表日の前営業日である2025年11月21日の東京証券取引所スタンダード市場における当社株式の終値890円に対して79.48％
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 公開買付者は、本公開買付けの成立後も引き続き当社株式の上場を維持する方針である
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 本書提出日現在、当社株式を保有しておりません。
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 公開買付者は中村けん牛氏より、公開買付価格は1,600円
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 2025年10月８日付面談において公開買付者は本応募合意株主に対し、2025年９月22日付面談において中村けん牛氏より提案を受けた公開買付価格1,600円を応諾する旨を伝える
- Tender Offer Registration Statement (S100X09O) 2025-11-26
Original text (Japanese): 応募株券等の総数が買付予定数の下限(1,849,400株)に満たない場合は、応募株券等の全部の買付け等を行いません。
- Tender Offer Registration Statement (S100X09O) 2025-11-26
Original text (Japanese): 応募株券等の総数が買付予定数の上限(2,214,800株)を超える場合は
- Tender Offer Report (S100XCB4) 2025-12-24
Original text (Japanese): 応募株券等の総数(2,302,610株)
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 同日までの過去１ヶ月間の終値単純平均値918円に対して74.29％
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 過去３ヶ月間の終値単純平均値955円に対して67.54％
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 過去６ヶ月間の終値単純平均値1,016円に対して57.48％
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): ＤＣＦ法 ：1,267円～1,730円
- Position Statement (S100X6RD) 2025-11-26
Original text (Japanese): 市場株価平均法：890円～1,016円