Mandom, a leading cosmetics company, has announced that CVC Capital Partners, the English investment fund conducting the management buyout (MBO), has increased its tender offer price to 3,105 yen per share. This new price surpasses a competing offer from American investment fund KKR by 5 yen. To accommodate this new price, CVC has also extended the tender offer period from December 12 to 25. The Mandom board, previously neutral on the matter, has now recommended shareholders accept CVC's offer, rejecting KKR's proposal which was contingent upon board approval.

This development comes after several months of uncertainty regarding the CVC-led tender offer, which had at one point faced difficulties in securing approval. The board's recent decision indicates renewed confidence in CVC's proposed strategy, especially concerning growth in Southeast Asia, such as Indonesia, and overall brand value enhancement. The board believes that CVC's strategies align more closely with the current business environment and the operational challenges Mandom faces.

As the situation evolves, Mandom's acceptance of CVC's offer highlights the competitive nature of the investment landscape, especially in the cosmetics sector, where growth potential in Asia is highly sought after. The implications of this deal will likely have significant impacts on Mandom's future, suggesting a shift in strategy that could enhance the company's position in a rapidly growing market.