Itochu Acquires 34.2 Million Shares in C.I. Takiron; Plans Buyout of Remaining Shares

MT Newswires Live09-20

Itochu (TYO:8001) and its wholly-owned subsidiary API G.K. completed a tender offer for shares in C.I. Takiron Corporation (TYO:4215), according to a Thursday filing on the Tokyo Stock Exchange.

A total of 34.2 million shares were tendered, exceeding the minimum required of 10.7 million shares, allowing for the purchase of all offered shares at 870 yen each.

Following this acquisition, Itochu and API G.K. plan to initiate "squeeze-out procedures" to consolidate ownership, potentially leading to the delisting of Takiron shares from the Tokyo Stock Exchange.

Settlement for the tender offer is scheduled to commence on Sept. 26.

Price (JPY): $7656.00, Change: $-5.0, Percent Change: -0.07%

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