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FINWIRES

V-Cube to Proceed With J-INC Deal After No Rival Bids Emerge

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-- V-cube (TYO:3681) said it received no binding alternative proposals during a market check period and will proceed with discussions on a buyout deal with Japan Innovation Investment, according to a Wednesday filing on the Tokyo Stock Exchange.

The company said two parties expressed interest, but only one conducted due diligence and did not submit a formal offer. V-cube plans to finalize an agreement with Japan Innovation Investment between late April and early May.

The transaction involves making the company a wholly owned subsidiary through a third-party allotment and share consolidation.

The company's shares are expected to be delisted in late June following shareholder approval and completion of the deal.

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