Inactive Instrument

KITO CORP

Equities

6409

JP3240800007

KKR-backed Crosby Group to launch $438 million tender offer for Japan's Kito

May 16, 2022 at 03:48 am EDT

TOKYO (Reuters) - KKR-backed Crosby Group, a U.S. lifting and rigging company, will launch a tender offer for all of Japanese hoists and cranes maker Kito Corp for 56.48 billion yen ($438 million), the companies said on Monday.

The Crosby Group will offer 2,725 yen for each Kito share, they said, representing a 62% premium over its closing price of 1,680 yen on Monday.

($1 = 128.9800 yen)

(Reporting by Chang-Ran Kim; editing by Jason Neely)

Latest news about KITO CORP

KITO Corporation(TSE:6409) dropped from S&P Global BMI Index	23-01-09	CI
Idemitsu sees cleaner fuels making profit contribution by 2030	22-12-15	RE
KITO Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023	22-10-27	CI
Lifting Holdings BidCo, Inc. completed the acquisition of 77.153345% stake in KITO Corporation from a group of shareholders.	22-10-24	CI
Japan oil refinery capacity has be cut further as demand falls -PAJ head	22-09-29	RE
Kito Lifts Fiscal H1 Earnings Outlook on Yen Decline	22-09-23	MT
Kito, The Crosby Group Receive Regulatory Approval for Business Combination	22-09-23	MT
KITO Corporation Revises Consolidated Earnings Guidance for April 1 to September 30, 2022 and for the Fiscal Year Ending March 31, 2023	22-09-22	CI
Kito Corporation Provides Consolidated Earnings Guidance for the First Half Ending September 2022 and for the Fiscal Year Ending March 31, 2023	22-08-05	CI
Misaki Capital Submits Shareholder Proposal to Kito	22-07-04	CI
KITO Corporation Announces Management Changes	22-06-24	CI
KKR-backed Crosby Group to launch $438 million tender offer for Japan's Kito	22-05-16	RE
KITO Corporation Announces Dividend for the Year Ended March 31, 2022, June 27, 2022	22-05-16	CI
KITO Corporation Provides Consolidated Earnings Guidance for the First Half Ending September 2022 and for the Fiscal Year Ending March 31, 2023	22-05-16	CI
Lifting Holdings BidCo, Inc. entered into business combination agreement to acquire KITO Corporation from a group of shareholders for ¥56.5 billion.	22-05-15	CI
Japan's Idemitsu posts record profit on soaring oil prices	22-05-10	RE
KITO Corporation Announces Board Changes	22-04-22	CI
KITO Corporation Provides Dividend Guidance for the Fiscal Year Ending March 31, 2022	22-02-07	CI
KITO Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2022	22-02-07	CI
Japan refiners dust off fuel oil supply chains to meet rising utility demand	21-11-25	RE
Japan's Idemitsu more than doubles annual profit forecast on soaring oil prices	21-11-09	RE
Transcript : KITO Corporation, Q2 2022 Earnings Call, Nov 10, 2021	21-11-09
Japan's Idemitsu more than doubles annual profit forecast on soaring oil prices	21-11-09	RE
KITO Corporation Provides Earnings Guidance for the Year Ending March 31, 2022	21-11-04	CI
Kito Corporation Announces Dividend for the Six Months Ended September 30, 2021, Payable on December 3, 2021; Provides Dividend Guidance for the Year Ending March 31, 2022	21-11-04	CI

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Company Profile

KITO CORPORATION is a Japan-based company mainly engaged in the development, manufacture and sale of hoists, cranes and chains. The Company operates through Japan, the Americas, China, Asia, Europe and other six geography segments. The Company also provides parts and maintenance services. The Company adopts an agency system and supplies mainly through the general distribution channels of dealers affiliated with special agents. Main products are cranes, pillow hook devices, balancers, chain products, manual chain blocks, lever blocks, manual trolleys and other manual products, as well as electric chain blocks, electric trolleys, rope hoists and other electric products.

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