TOKYO (Reuters) -Taiwanese electronic parts maker Yageo said on Thursday it was re-evaluating the terms of its tender offer for Japan’s Shibaura Electronics, a move that came after its rival suitor raised its bidding price. Earlier in the day, Japanese electronics components maker Minebea Mitsumi said it planned to launch its tender offer for Shibaura […]
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Yageo says it is re-evaluating offer terms for Shibaura Electronics
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TOKYO (Reuters) -Taiwanese electronic parts maker Yageo said on Thursday it was re-evaluating the terms of its tender offer for Japan’s Shibaura Electronics, a move that came after its rival suitor raised its bidding price.
Earlier in the day, Japanese electronics components maker Minebea Mitsumi said it planned to launch its tender offer for Shibaura on Friday at 5,500 yen ($38.06) a share, up from its previous bid of 4,500 yen and above Yageo’s bidding price of 5,400 yen.
Yageo now expects to launch its tender offer for Shibaura around mid-May, compared with the originally planned May 7, the Taiwanese company said.
“Yageo stands resolute in our belief that the combination of Shibaura and Yageo will generate superior growth and value creation,” it said in a statement.
($1 = 144.5200 yen)
(Reporting by Kiyoshi Takenaka; Editing by Jan Harvey)