Itochu to Buy Software Unit for as Much as $2.7 Billion

Japanese trading company Itochu Corp. will pay as much as 387.6 billion yen ($2.7 billion) to take its software unit private, according to a company statement Wednesday.

(Bloomberg) — Japanese trading company Itochu Corp. will pay as much as 387.6 billion yen ($2.7 billion) to take its software unit private, according to a company statement Wednesday.

Itochu will launch a tender offer for Itochu Techno-Solutions Corp. at as much as 4,325 yen a share, according to the statement. The offer is a 10% premium to Wednesday’s closing price of 3,921 yen, according to Bloomberg calculations. Itochu currently has a 61.24% stake in the unit, according to the statement.

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