Warburg Pincus has made a tender offer to acquire Japanese student housing company JSB Co in a JPY190bn (€1bn) deal. The US private equity firm is offering JPY9,000 per share and JPY1,735,000 per stock option to take the company private, a proposal JSB’s board has recommended to shareholders. Warburg Pincus has already secured tender agreements from the company’s two largest investors, the Oka Family and Hikari Tsushin Group, who hold a combined stake of over 58%.