MUFG to Acquire WealthNavi for ¥100 Billion, Offering ¥1,950 per Share

Nov 29, 2024, 04:01 AM

Mitsubishi UFJ Financial Group Inc. (MUFG) is set to acquire WealthNavi Inc., Japan's leading robo-advisory firm, in a deal valued at approximately ¥100 billion. The acquisition will involve a tender offer bid (TOB) at ¥1,950 per share, aiming to make WealthNavi a wholly owned subsidiary. This move is part of MUFG's strategy to enhance its financial technology capabilities and expand its offerings in personal wealth management. WealthNavi, with assets under management exceeding ¥1.3 trillion, primarily through its 'new NISA' program, will cease to be publicly traded if the TOB is successful.