MinebeaMitsumi Emerges as White Knight for Shibaura Electronics
Tokyo, April 10 (Jiji Press)--Major bearing maker MinebeaMitsumi Inc. said Thursday that it will launch a tender offer for major sensor maker Shibaura Electronics Co.
MinebeaMitsumi will effectively be a white knight for Shibaura Electronics, which is facing a nonconsensual takeover bid from Taiwanese electronics maker Yageo Corp.
Shibaura Electronics said on the day that it will support MinebeaMitsumi's tender offer while opposing Yageo's bid.
MinebeaMitsumi will purchase Shibaura Electronics shares at 4,500 yen per share, higher than Yageo's offer price of 4,300 yen.
MinebeaMitsumi plans to spend up to 67.6 billion yen on the tender offer, which is expected to begin on April 23. If the offer is successful, Shibaura Electronics is expected to be delisted.
(2025/04/10-18:31)
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