Yahoo Japan Agrees To Buy Travel Site Ikyu For 100 Bln Yen

(RTTNews) - Yahoo Japan Corp. agreed to acquire travel website Ikyu Corp. for as much as 100.2 billion yen. Yahoo Japan, owned 35.5 percent by Yahoo Inc (YHOO) and 36.4 percent by SoftBank Group.

Yahoo Japan said on Tuesday that it is offering 3,433 yen per share, or 42 percent more than Tuesday's closing price and the tender offer for Ikyu shares will be made from Dec. 16 until Feb. 3.

Yahoo Japan specified that Ikyu President Masafumi Mori has agreed to sell his 41 percent stake, while Mori Trust, the second-largest holder, will also sell its stake .

Yahoo! Inc., the Japanese portal's second-largest investor, has said it plans to spin off its 35.5 percent stake along with other assets.