Kalon Extends Tender Offer for Mandom Corporation, Impacting TCID

Acquisition Update

Kalon Holdings Co Ltd has announced an update regarding its acquisition of Mandom Corporation, the parent company of PT Mandom Indonesia Tbk (TCID). The tender offer period for Mandom Corporation's shares has been extended from the original 57 trading days to 64 trading days, now ending on January 5, 2026. Consequently, the transaction completion date has been pushed from December 25, 2025, to January 13, 2026.

Market Reaction

On December 18, 2025, TCID's stock price reacted negatively to the news, falling by 1.01% to Rp 2,950 per share as of 11:38 WIB. This market response indicates investor sensitivity to the acquisition timeline and its potential implications for the company's future.

Acquisition Background

The acquisition process, which began with the tender offer starting on September 26, 2025, has been ongoing for several months. The extension of the tender offer period reflects the complexities involved in such large-scale corporate transactions. Kalon's decision to acquire Mandom Corporation through this extended tender offer demonstrates its commitment to completing the acquisition successfully.

Implications for TCID

As a subsidiary of Mandom Corporation, PT Mandom Indonesia Tbk (TCID) is likely to be impacted by this acquisition. The change in ownership could potentially influence TCID's strategic direction, operational management, and financial performance in the future. Investors and stakeholders will be closely monitoring the outcome of this acquisition and its implications for TCID's growth prospects.