Abalance Corporation entered into a tender offer agreement to acquire 39.99% stake in Meiji Machine Co., Ltd. from Nippon Conveyor Co.,Ltd TCS Holdings Co., Ltd. and others
March 22, 2022
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Abalance Corporation (TSE:3856) entered into a tender offer agreement to acquire 39.99% stake in Meiji Machine Co., Ltd. (TSE:6334) from Nippon Conveyor Co.,Ltd, TCS Holdings Co., Ltd and others for approximately ¥920 million on February 21, 2022. Under the terms, 4,554,700 shares at a price of ¥201 per shares will be acquired with a lower limit of 2,935,300 shares. Tender offer period will commence from February 22, 2022 to March 23, 2022. Board of directors resolved the transaction for the tender offer and board decided to leave it to the judgment of Meiji Machine's shareholders. Deloitte Tohmatsu Financial Advisory LLC acted as financial advisor and Kitahama Partners acted as legal advisor to Meiji Machine.
Abalance Corporation (TSE:3856) entered into a tender offer agreement to acquire 39.99% stake in Meiji Machine Co., Ltd. (TSE:6334) from Nippon Conveyor Co.,Ltd, TCS Holdings Co., Ltd. and others on March 23, 2022. Nippon Conveyor tendered 1,656,900 shares in transaction.
Abalance Corporation, formerly Realcom Inc., is mainly engaged in software license sales, system construction, and the distribution and sale of construction machinery,as well as green energy related business. The Company operates in three business segment. The Information Technology (IT) segment is involved in the introduction of core product Knowledge Market to its new customers, as well as the sale of licenses, the provision of system integration, and operation and maintenance businesses. The Construction Equipment Sale segment is involved in the trading of construction machinery in domestic market and to overseas markets. The Green Energy segment is involved in the trading of solar panels and related products, power plant construction and solar power generation.
Abalance Corporation entered into a tender offer agreement to acquire 39.99% stake in Meiji Machine Co., Ltd. from Nippon Conveyor Co.,Ltd TCS Holdings Co., Ltd. and others