Japan's TopCon says it is exploring options including going private

Topcon

11/12/2024 02:25

By Anton Bridge, Anirban Sen
       TOKYO/NEW YORK, Dec 11 (Reuters) - Japanese eyecare
products maker TopCon  7732.T  is exploring going private among
other measures to raise corporate value, it said in a statement,
following reports that private equity firms were placing bids to
take the firm private.
    Private equity firms including KKR & Co  KKR.N  are in a
bidding process to acquire the company, two sources with
knowledge of the matter said. Bloomberg News first reported
about the bids on Tuesday, also naming Swedish investment firm
EQT  EQTAB.ST  as a contender.
    "We are always considering various measures to enhance our
corporate value, not only the measures mentioned in the report,"
TopCon said in the statement dated Tuesday, adding that nothing
had been decided yet.
    KKR declined to comment, while EQT did not immediately
respond to Reuters' request for comment.
    TopCon shares rose as much as 23% on Wednesday, giving it a
market cap of around 280 billion yen ($1.85 billion), according
to Reuters calculations based on LSEG data.
     
    ($1 = 151.6600 yen)

(Reporting by Anton Bridge in Tokyo and Anirban Sen in New York;
additional reporting by Kane Wu in Hong Kong; Editing by Varun H
K)
((kane.wu@thomsonreuters.com; +85228436590; Reuters Messaging:
kane.wu.thomsonreuters.com@reuters.net))