Mitsui Mining & Smelting Co., Ltd. (TSE:5706) made a tender offer to acquire remaining 36.6% stake in MESCO, Inc. for ¥6.2 billion on December 24, 2021. Mitsui Mining will pay 1,320 per share to acquire 4,671,975 shares. Prior to transaction, Mitsui Mining owns 8,100,000 shares, representing a 63.42% stake in MESCO. If all remaining shares are tendered, Mitsui Mining will own 100% stake in MESCO, making it a wholly owned subsidiary. The tender offer will be conditional upon acceptance of minimum 414,600 shares and no limit on maximum tender. The tender offer will close on February 14, 2022. As of February 7, 2022, the tender offer close date has extended to February 24, 2022. Nomura Securities Co., Ltd. acted as tender offer agent. Nishimura & Asahi acted as legal advisor of Mitsui Mining. TMI Associates acted as legal advisor and IR Japan acted as financial advisor and independent fairness provider of MESCO.

Mitsui Mining & Smelting Co., Ltd. (TSE:5706) completed the acquisition of remaining 36.6% stake in MESCO, Inc. on March 22, 2022.