Japanese chip material maker Shin-etsu to launch $553 mln offer for Mimasu

Shin-Etsu Chemical Co

25/04/2024 07:17

TOKYO, April 25 (Reuters) - Japanese chip material maker
Shin-Etsu Chemical  4063.T  said on Thursday it will launch a
tender offer for Mimasu Semiconductor Industry's  8155.T  shares
in a 86 billion yen ($553 million) deal.
    Shin-Etsu will pay 3,700 yen per Mimasu share to raise its
stake in the silicon wafer company to 100% from current 42.75%,
and the tender offer is set to start in late July, the company
said in a statement.

($1 = 155.6500 yen)

 (Reporting by Kantaro Komiya; Editing by Kim Coghill)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))