SoftBank-backed Yahoo Japan and messaging app Line have agreed to merge as Masayoshi Son seeks to create a south-east Asian powerhouse in data and artificial intelligence worth ¥3.3tn ($30bn).
The deal follows years of courting by Mr Son, SoftBank’s founder, who has long pitched the merger as a way to compete against rivals in China and Silicon Valley, according to people familiar with the discussions.
Under the framework announced on Monday, Line will first be taken private through a tender offer at a proposed price of ¥5,200 per share, which represents a 13 per cent premium to Line’s share price on November 13 before news of the talks broke last week.
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