South Korea-based private equity firm MBK Partners is set to acquire Japanese machine tool manufacturer Makino Milling Machine (TYO:6135) in a deal estimated to surpass 2 trillion won, Pulse News reported Wednesday.
The company secured exclusive rights over rival bidder Carlyle. The acquisition, likely via tender offer at 11,000 yen per share (or about 105,000 won), follows a failed bid by Nidec, the report said.
Shares of Makino Milling Machine fell more than 1% at market close on Thursday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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