Itochu to launch $2.7 bln tender offer for Itochu Techno-Solutions

Itochu Techno-Solutions

02/08/2023 09:17

TOKYO, Aug 2 (Reuters) - Japanese trading firm Itochu
Corp  8001.T  said on Wednesday it would launch a tender offer
for Itochu Techno-Solutions Corp  4739.T  in a deal worth 387.63
billion yen ($2.72 billion). 
    Itochu said it would offer 4,325 yen per share for Itochu
Techno-Solutions, in which it already owns a 61% stake. 
    Shares in Itochu Techno-Solutions ended up 7.6% before the
announcement.
   
    ($1 = 142.4500 yen)

 (Reporting by Satoshi Sugiyama
Editing by Chang-Ran Kim)
 ((Satoshi.Sugiyama@thomsonreuters.com;))