NTT to launch 16.5 billion tender offer for NTT data in AI push

NTT plans to make its AI powerhouse NTT Data Group a wholly owned subsidiary in a deal worth 2.37 trillion ( 16.5 billion), the latest in a series of Japanese parent companies absorbing their listed units. The country's biggest telecom operator is launching a tender offer of 4,000 per share for all stock it doesn't own in NTT Data. That represents a premium of 34% to its close the previous day. The tender will take place from Friday to June 19, with NTT Data to delist after the tender. News of the deal sent NTT Data shares up by their daily limit of 17% on Thursday, its highest in 25 years.