Japan activist investor Murakami eyes takeover of former Toshiba unit

Shibaura Machine

17/01/2020 17:08

TOKYO, Jan 18 (Reuters) - Japan's Toshiba Machine Co
 6104.T  said on Friday a fund backed by veteran activist
investor Yoshiaki Murakami planned a takeover bid for the former
Toshiba Corp  6502.T  subsidiary. 
    Office Support Co, backed by Japan's most prominent activist
shareholder, plans to launch a tender offer for Toshiba Machine
on Tuesday, according to the molding machine maker.
    Should the bid become hostile, it would be a relatively
uncommon occurrence in Japan, where such a move is seen as taboo
with many companies shielded by cross-share holdings.
    Toshiba Machine said in a statement that the planned
takeover could potentially disturb the company's effort to
maximise its corporate value and the interest of other
shareholders.
    Office Support and other related funds currently hold a
combined 11.49% of Toshiba Machine's total voting rights,
Toshiba Machine said.

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