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
Related Posts
Nikkei Retakes 53,000 on Hopes for Early End to Iran Conflict
Tokyo, April 1 (Jiji Press)–Tokyo stocks rebounded sharply Wednesday on growing expectations for an early end to the conflict between the U.S.-Israeli side and Iran, with the benchmark Nikkei 225 index retaking 53,000 for the first time in three days. The index
Japanese Companies Welcome New Employees
Tokyo, April 1 (Jiji Press)–Companies across Japan held entrance ceremonies for new employees Wednesday, the first day of the country’s new fiscal year, with fresh faces displaying enthusiasm despite global turmoil stemming from Middle East tensions and economic uncertainty at home. Some
