Japanet withdraws TOB proposal for Twinbird

M&A · Partnership
โดย Reuters·JP·Read original
Summary · why it matters

Japanet Holdings announced on the 2nd that it would withdraw its tender offer (TOB) proposal for home appliance maker Twinbird. Regarding Twinbird's resolution to express opposition unanimously at its board of directors, Japanet stated that it 'takes this seriously.' On June 19, Japanet had announced plans to launch a TOB (at 800 yen per share) aiming to make Twinbird a wholly owned subsidiary, conditional on Twinbird's consent. Subsequently, Twinbird had been considering its response at its board of directors and special committee.

Impact on stocks 1

Consumer Discretionary▼ · 1 stocks
Twinbird Corporation
6897
▼ NegativeCapitalrelevance

Japanet withdraws its TOB proposal, leaving Twinbird without the planned acquisition.

Off-coverage companies 1

Japanet HoldingsPrivate▼ Negative
Capitalrelevance

Japanet withdraws its TOB proposal for Twinbird after facing opposition.

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