Nippon Kayaku Co., Ltd. (TSE:4272) made an offer to acquire the remaining 33.55% stake in Polatechno Co.,Ltd. (JASDAQ:4239) from Arisawa Mfg. Co., Ltd. (TSE:5208) and others for ¥13.8 billion in late May 2019. Nippon Kayaku will acquire 13.9 million shares at ¥993 per share. Nippon Kayaku will acquire 9.28 million shares representing 22.38% stake from Arisawa Mfg.

The Board of Directors of Nippon Kayaku resolved the transaction on August 27, 2019. A special committee of directors was formed including Keiko Nagata, Ryosuke Koike and Naoki Takahashi. The tender offer period will be from August 28, 2019 to October 10, 2019. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as the financial advisor and Anderson Mori & Tomotsune LPC acted as the legal advisor to Nippon Kayaku. Frontier Management Inc. acted as the third-party calculation organization. TMI Associates acted as the legal advisor for Polatechno. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd, and Kabu.com Securities Co., Ltd acted as tender offer agents.

Nippon Kayaku Co., Ltd. (TSE:4272) completed the acquisition of an additional 32.75% stake in Polatechno Co.,Ltd. (JASDAQ:4239) from Arisawa Mfg. Co., Ltd. (TSE:5208) and others for ¥13.5 billion on October 10, 2019. Nippon Kayaku acquired 13.6 million shares.