Activist fund Effissimo to launch tender offer for Japan's Sanken Electric

Sanken Electric

08/02/2021 06:36

TOKYO, Feb 8 (Reuters) - Singapore-based activist hedge fund
Effissimo Capital Management said on Monday it would launch a
tender offer to buy up to 30% of Japan's Sanken Electric Co
 6707.T . 
    Effissimo, which already holds 9.97% of the electronic
components maker, plans to spend up to 25.2 billion yen ($239
million), buying shares at 5,205 yen each, a 17% premium to
Monday's closing price of 4,445 yen. 
    
    ($1 = 105.5100 yen)

 (Reporting by Makiko Yamazaki; Editing by Tom Hogue)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))