Iwakaze makes a big play for GDH

Firm plans to buy 13,189 shares

Toon and online game maker GDH will accept a takeover bid from investment firm Iwakaze Capital.

Iwakaze plans to buy 13,189 GDH shares, or 15% of the total, for 1.06 billion yen ($9.9 million) before Oct. 10.

The offered price per share is $74.65, compared with $82.12 per GDH share at the close of public trading on Sept. 9.

GDH’s prexy Shinichiro Ishikawa, executive VP/COO Yasushi Uchida and CFO Fumiaki Goto will depart, while a new prexy and management team will take over on Oct. 1.

GDH reported an operating loss of $32.6 million for the year ending in March.

GDH titles include the TV toon series “Afro Samurai” and the feature toon “Brave Story,” which GDH production arm Gonzo made with Fuji TV and Warners.

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