Hakuhodo DY Holdings to Acquire HIBC Co. and Time & Space

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Hakuhodo DY Holdings (TYO:2433) will acquire shares of HIBC Co. and Time & Space, as part of its tender offer plans to make Digital Holdings (TYO:2389) a wholly-owned subsidiary through a tender offer.

Hakuhodo will make HIBC Co., and Time & Space, wholly-owned subsidiaries as well, subject to the completion of the tender offer, according to its Tokyo bourse filing on Friday.

Subsequently, Hakuhodo will then enter into absorption-type company split agreements to succeed the rights and obligations of the shares of Digital Holdings owned by HIBC and Time & Space.

This company split is scheduled to be effective on Nov. 5. As a result of the company split, there will be no change in Hakuhodo's capital stock.

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