Livedoor guy

[kintaro 0]

I think it shows affection or a closeness in their relationship.

[fukdane 2]

sure seems that way, doesn't it.

[TheOrange 0]

So who won then really?

Horie looked the happier for sure.

They looked an odd bunch up there him in his t shirt them in their starched shirts and ties.

[BillTheBinMan 0]

Fuji, Livedoor strike $1.6 bln deal to end battle

TOKYO, April 18 (Reuters) - Japan's Fuji Television Network Inc. agreed on Monday to pay a total $1.65 billion to end a two-month takeover fight over an affiliate with Internet portal Livedoor Co. in what analysts called a face-saving deal that offered little benefit to shareholders.

The takeover fight, a rarity in Japan, had pitted Livedoor's combative president, Takafumi Horie, 32, against Japan's biggest media group and a pillar of the conservative business establishment.

 

Under the deal, Fuji TV, Japan's biggest TV network, said it would pay a total of 131.5 billion yen ($1.22 billion) to make Nippon Broadcasting System Inc. (NBS) a wholly owned unit, including the purchase of a Livedoor unit for 67 billion yen, along with a 32.4 percent NBS stake the unit owns.

 

Fuji also agreed to buy a 14.61 percent stake in Livedoor for 44 billion yen and form a business alliance with it, bringing the total value of the deal to 177.5 billion yen ($1.65 billion).

 

Livedoor had aimed to gain influence over the Fuji Sankei media group, headed by Fuji TV. Radio broadcaster NBS is a member of the conglomerate.

 

The two-month battle saw both firms claiming they could outdo the other in boosting NBS's enterprise value through business integration, but analysts say while the apparent compromise avoids a prolonged battle it offers little benefit for shareholders.

[Siren 0]

 Quote:

So who won then really?

Him, obviously (didn't he manage to talk himself out of a disaster with no punishment)?

NBC shares are (or will be) safely returned. Fuji is relieved. He was given a face-saving promise of business co-operation for giving up the shares. The bridge financiers made some money and (surely) the 'White Knight' got something for putting the frightener on him.

Happy ending, don't you think?

Did I forget to say something about shareholder value or 'businessman of the future'?

[Siren 0]

In today's Financial Times:

 

"Livedoor's shares are 23% below the Y455 they were trading at when it launched its bid for NBS in early February.

 

Its shareholders are also being substantially diluted by the convertible bond Livedoor raised to fund the takeover and the new shares to be issued to Fuji TV."