Bain Capital and LY Corp. are considering a joint offer to acquire Japanese online marketplace Kakaku.com, escalating a bidding battle against private equity firm EQT AB.
The two companies are exploring a fresh proposal that would top EQT's existing bid for the e-commerce platform, according to sources with knowledge of the negotiations.
Kakaku.com operates Japan's largest price comparison website and digital marketplace ecosystem. The company has attracted multiple bidders seeking to capitalize on its established user base and market position.
EQT previously submitted an offer for the Tokyo-listed company, prompting Bain and LY to reassess their strategy. A higher counteroffer from the Bain-LY consortium would intensify competition for control of the asset.
No details about the proposed bid amount or timeline have been disclosed. The negotiations remain active, with the final outcome dependent on board approval and regulatory considerations.
Bain Capital has a track record of investing in Asian technology and services companies, while LY Corp., a South Korean conglomerate, has expanded its presence in digital platforms across the region.
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