What value did he see and why didn’t he think Shiseido could create that value itself for less than $845 million?

Was this a good acquisition for Shiseido? Why or why not? By which criteria should a possible acquisition be judged?
Did Shiseido pay too much or too little for Drunk Elephant? Why?
Why did Uotani acquire Drunk Elephant rather than developing his own clean beuty skincare brand? What value did he see and why didn’t he think Shiseido could create that value itself for less than $845 million?
What further investment will Shiseido need to into Drunk Elephant to realize its brand potential? Toward which ends would you invest that money?
Will Drunk Elephant thrive under Shiseido’s management? How well/poorly does it fit into the rest of Shiseido’s brand portfolio? What factors will determine the answer to this question?

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