Tokyo, April 1 (Jiji Press)–U.S. investment fund KKR will spend around 500 billion yen to take Taiyo Holdings Co. private, the Japanese semiconductor materials maker said Tuesday. KKR plans to launch a tender offer in early October to acquire all Taiyo shares at 4,750 yen apiece. Oasis Management Co., a Hong Kong-based activist investor that has clashed with Taiyo’s management, will tender its Taiyo shares into the offer. DIC Corp., a Japanese chemical maker that is Taiyo’s biggest shareholder, and the asset management firm of Taiyo’s founding family have agreed to KKR’s tender offer. Taiyo is the world’s leading maker of solder resist, an insulation ink used on semiconductor circuit boards. The company had been considering going private after Taiyo shareholders last year rejected reappointing its then CEO to the board of directors at the initiative of Oasis Management. END [Copyright The Jiji Press, Ltd.]
KKR to Take Chip Materials Maker Taiyo Private
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