07:10 AM EST, 11/29/2024 (MT Newswires) -- Mitsubishi UFJ Financial Group ( MUFG ) said Friday it will launch a tender offer of 99.67 billion Japanese yen ($664.3 million) to turn WealthNavi into a wholly owned subsidiary.

The offer will launch on Monday and will run through Jan. 20, MUFJ said.

MUFJ said it already owns a nearly 16% stake in WealthNavi, a provider of automated asset management, acquired in February.

MUFJ shares were up 3.1% in recent Friday premarket activity.