SCSK Corporation completed the acquisition of remaining 89.6% stake in Minori Solutions Co., Ltd. from Mitsubishi Research Institute DCS Co., Ltd., Flight Y.K., Shingo Nagasawa, Masamori Takizawa and others.
SCSK has set the minimum number of shares to be purchased to 4.84 million shares. If SCSK acquired more than 90% stake in Minori it will request all shareholder who did not accept the offer to sell their shares to SCSK. SCSK Board resolved the transaction on October 30, 2019. On October 30, 2019, Board of Minori unanimously resolved and approved to express its opinion in favor of the offer and to recommend that shareholders accept the offer. Minori establishes a special committee comprising of Shinichi Koyam, Akira Nishida and Yoshihiko Terada to ensure fairness of the offer. The offer will be open from October 31, 2019 to December 12, 2019. Daiwa Securities Co. Ltd. acted as financial adviser and Nishimura & Asahi acted as legal advisor for SCSK in the transaction. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial adviser and TMI Associates acted as legal adviser for Minori.
SCSK Corporation (TSE:9719) completed the acquisition of remaining 89.6% stake in Minori Solutions Co., Ltd. (TSE:3822) from Mitsubishi Research Institute DCS Co., Ltd., Flight Y.K., Shingo Nagasawa, Masamori Takizawa and others on December 12, 2019. A total of 7.2 million shares have been purchased in the offer and SCSK Corporation will go for compulsory acquisition. As reported on December 20, 2019, SCSK requested all the minority shareholders of Minori Solutions to sell their shareholders.