Nippon Steel launches $456 mln bid to acquire Sanyo Special Steel
31/01/2025 07:23
TOKYO, Jan 31 (Reuters) - Nippon Steel 5401.T will
launch a $456 million tender offer to make Sanyo Special Steel
5481.T a wholly owned unit, Japan's biggest steelmaker said on
Friday.
Nippon Steel will offer 2,750 yen ($17.78) a share, or a 37%
premium over Sanyo Special Steel's closing price on Friday,
spending a total 70.45 billion yen ($455.66 million), it said in
a statement.
($1 = 154.7100 yen)
(Reporting by Kantaro Komiya
Editing by Chang-Ran Kim)
((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))