Ferrotec Holdings Corporation (TSE:6890) made an tender offer to acquire an additional 17.8% stake in Ohizumi Mfg. Co., Ltd. (TSE:6618) for ¥1.9 billion on June 10, 2022. Under the terms, Ferrotec Holdings will pay ¥1,300 per share to acquire 1,510,900 shares. Post transaction, Ohizumi will be a consolidated subsidiary, and therefore will not be delisted. The transaction is resolved by the board of directors of Ohizumi. The tender offer will commence on June 10, 2022 and terminate on July 25, 2022 and settlement expected on August 1, 2022. KPMG FAS Co., Ltd. acted as financial advisor and fairness opinion provider, U&I Advisory Service Co., Ltd. acted as financial advisor and Uryu & Itoga acted as legal advisor to Ohizumi. Nagashima Ohno & Tsunematsu acted as legal advisor, Investment Banking Department office of IR Japan, Inc acted as financial advisor and fairness opinion provider to Ferrotec. Mita Securities Co., Ltd acted as tender offer agent.

Ferrotec Holdings Corporation (TSE:6890) completed the acquisition of an additional 17.8% stake in Ohizumi Mfg. Co., Ltd. (TSE:6618) on July 25, 2022.