Nidec plans to launch a $1.6 billion unsolicited bid for Makino Milling Machine

From Investing.com: 2024-12-26 19:40:36

Japanese manufacturing giant Nidec plans to launch a tender offer for Makino Milling Machine at a 42% premium. Nidec will spend about $1.6 billion on the bid to take Makino private, with or without the target company’s approval. The offer of 11,000 yen per share has not been agreed upon by Makino’s board.

Nidec plans to clear regulatory processes by early April and launch the tender offer on April 4. Makino’s shares went untraded due to a glut of buy orders, while Nidec’s shares were up over 1%. Nidec, known for aggressive acquisitions, aims to acquire Makino despite the lack of approval.

The Japanese government aims to promote industry consolidation through M&A guidelines released last year. Nidec’s acquisition of Makino follows an unsolicited takeover of Takisawa Machine Tool in a previous offer. Nidec’s founder, Shigenobu Nagamori, leads the company’s aggressive acquisition strategy.

($1 = 157.7400 yen)



Read more at Investing.com: Nidec announces $1.6 billion unsolicited bid for Makino Milling By Reuters