SoftBank (OTCPK:SFTBY) has engaged Nomura Holdings (NYSE:NMR) and Goldman Sachs (NYSE:GS) as it looks to shift ownership of Yahoo Japan (OTCPK:YAHOY), a move to let the affiliates in Masayoshi Son's group collaborate more closely.
Mobile operator SoftBank Corp. has hired Nomura, while its parent company has tapped Goldman.
The announced deal has SoftBank Group selling its 36% holding to Yahoo Japan via discounted tender offer, after which shares will be canceled.
Then Yahoo Japan will separately offer shares that unit SoftBank Corp. will buy for some ¥456B (about $4.1B).
Yahoo Japan is up 10% Thursday afternoon in Tokyo.
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