Toppan Inc. (TSE:7911) made an offer to acquire remaining 39.26% stake in Toppan Forms Co., Ltd. (TSE:7862) for ¥67.5 billion on November 10, 2021. Under the terms Toppan Inc will acquire 43.5 million shares for ¥1550 per share. Prior to the transaction Toppan Inc. owns 67,419,000 shares representing 60.74% of Toppan Forms Co., Ltd. The transaction was resolved by the Toppan Inc board. The offer period begins on November 11 and ends on December 23, 2021. Nomura Securities Co., Ltd. and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as the financial advisor to Toppan Inc. and Daiwa Securities Co. Ltd. acted as financial advisor and TMI Associates as legal advisor to Toppan Forms Co., Ltd.
Toppan Inc. (TSE:7911) completed the acquisition of an additional 35.64% minority stake in Toppan Forms Co., Ltd. (TSE:7862) for ¥61.3 billion on December 23, 2021.