Kirin Extends Tender Offer for Fancl Takeover Bid to Aug. 13

Kirin Holdings Co. extended its deadline to accept tender offers for its proposed takeover of Fancl Corp, a potential boost for some investors in the skincare brand who have been agitating for a higher price.

The brewer, which is looking to reduce its reliance on beverages, made a bid last month to acquire two-thirds of Fancl that it doesn’t already own for around ¥220 billion ($1.4 billion). The new deadline for the tender offer was extended from Monday to Aug. 13.

Fancl shares have been trading above Kirin’s offer of ¥2,690 per share, suggesting that the market is expecting ...