Nidec Responds to Makino Milling's Concerns Over Tender Offer

MT Newswires Live04-18

Nidec (TYO:6594) submitted responses to Makino Milling Machine (TYO:6135) regarding inquiries made in the target's April 11 opinion report on the proposed tender offer, according to a Thursday filing on the Tokyo Stock Exchange.

Nidec launched its offer on April 4 as part of a plan to acquire all shares in the Tokyo-listed industrial machine maker.

In its response, Nidec said it answered the questions in good faith, even though some had been addressed in earlier disclosures or were not considered relevant to shareholder decision-making.

Makino said it remained unconvinced the offer would enhance its corporate value or shareholder interests. Nidec urged Makino's board to make a fair and impartial judgment after reviewing its answers.

The filing also pointed to delays in document exchanges between both companies and noted that Nidec submitted its reply earlier than required to support timely shareholder decisions.

Price (JPY): $2095.00, Change: $+31, Percent Change: +1.48%

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