Yahoo Japan pushes Zozo investors into new orbit: the ailing fashion site's boss, who bought SpaceX’s first ticket to the moon, is tendering most of his stake. Other owners may want to sell too, says petesweeneypro
Yahoo Japan on Sept. 12 offered to buy control of Japan's biggest online fashion retailer Zozo for 400 billion yen . Its bid of 2,620 yen per share represents a 21% premium to the closing price on Sept. 11.
Zozo founder Yusaku Maezawa said he would step down as chief executive and sell a 30% stake, leaving him about 6% of the company. Yahoo Japan will own about 51% of Zozo under terms of the tender offer.
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