Toshiba Machine to tender NuFlare shares to Toshiba despite higher offer from Hoya

Shibaura Machine

15/01/2020 13:48

TOKYO, Jan 15 (Reuters) - Toshiba Machine Co  6104.T  said
on Wednesday it would tender its stake in chip equipment maker
NuFlare Technology Inc  6256.T  to Toshiba Corp  6502.T ,
shrugging off a higher counter offer by Hoya Corp  7741.T .
    The tender by Toshiba Machine, NuFlare's second-largest
shareholder with a 15.8% stake, would allow Toshiba to secure
more than two-thirds of NuFlare.
    Toshiba, which already holds 52.4% of NuFlare, is aiming to
take full control of the chip equipment maker as the Japanese
government pointed to corporate governance issues with dual
listings of parents and subsidiaries.  urn:newsml:reuters.com:*:nL4N28T2D9

 (Reporting by Makiko Yamazaki, editing by Louise Heavens)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))