Florida based Digital Bridge, an investment firm focused on the acquisition of data centers and cell towers, has made an offer to buy Jtower, a Tokyo based telecom infrastructure sharing company.
The offer stands at around ¥93bln ($630m), representing a 152% premium over Wednesday’s closing price.
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Atsushi Tanaka, Jtower’s founder and president, and Nippon Telegraph & Telephone Corp. are offering their joint stake, worth about 26%, at ¥3,600 ($24.5) per share. The offer expires October 10th.
Jtower’s board has supported the offer and will recommend other shareholders do the same.
The telecoms firm owns 7,700 towers in suburban and rural areas of Japan, making it one of the largest shared infrastructure companies in the country.
Jtower also has dealings with other major carriers who want to consolidate their networks in the face of a shrinking population. For years, more people have been dying in Japan than are being born.
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By GlobalDataAtsushi Tanaka will continue to lead the company, and the current management structure will stay in place.
