JSR Corporation (TSE:4185) made an offer to acquire remaining 7.27% stake in Medical & Biological Laboratories Co., Ltd. (JASDAQ:4557) for ¥1.7 billion on December 18, 2020. Under the term, JSR will acquire 0.38 million shares of Medical & Biological Laboratories at ¥4,400 per shares. Post completion, Medical & Biological Laboratories will be delisted from Tokyo Stock Exchange JASDAQ Standard Market.

JSR plans to pay the consideration for the sale of shares using the cash and deposits held by JSR. The transaction was resolved by the board of directors of Medical & Biological Laboratories on December 18, 2020. A special committee was appointed for providing fairness opinion. Medical & Biological Laboratories expected to delisted on January 13, 2021.

The transaction is expected to close on January 15, 2021. Plutus Consulting Co., Ltd. acted as a financial advisor and Sato Sogo Law Office acted as a legal advisor to Medical & Biological Laboratories.