Nippon Steel launches $456 million bid to acquire Sanyo Special Steel

Quick Summary:

TOKYO : Nippon Steel will launch a $456 million tender offer to make Sanyo Special Steel a wholly owned unit, Japan's biggest steelmaker said on Friday.

Nippon Steel will offer 2,750 yen ($17.78) a share, or a 37 per cent premium over Sanyo Special Steel's closing price on Friday, spending a total 70.

FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Sanyo Mediacorp File Experience Nippon Steel Friday Japan Offer Special Tokyo

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-31 @ 15:24:18 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 138 words

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Sentences: 6 lines

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Copyright Owner: © Channel News Asia

News ID: 25663315

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