Tokyo, Sept. 17 (Jiji Press)–Taiwanese electronic parts maker Yageo Corp. has announced a decision to extend its tender offer for Japanese sensor maker Shibaura Electronics Co. The tender offer was originally slated to end Thursday this week. The extension came as Yageo needs to submit a revised document on the tender offer to Japanese authorities after Shibaura Electronics, which previously withheld its opinion about the acquisition offer, announced its support for the action by the Taiwanese company Tuesday. In case a revised tender offer document is submitted, the tender offer period needs to be extended for 10 business days. Yageo said in a statement that Shibaura Electronics’ change of stance came as a result of “the meaningful engagement” the two companies had in the past months. Yageo also said it is encouraged as Shibaura Electronics came to realize the synergies the two companies will be able to achieve together for the future of the Japanese company and its employees. END [Copyright The Jiji Press, Ltd.]
Yageo Extends Tender Offer for Shibaura until Oct. 3
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