Kanematsu (8020) · InitiativeAdvanced
Making 兼松サステック a Wholly Owned Subsidiary Through a Tender Offer
First written in FY2023-Q3. 1 of 2 entries say "Advanced", first in FY2023. Latest entry: FY2023.
2entries
1years
0from disclosures
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Same theme, other companies
Making a company a wholly owned subsidiary and delisting through a tender offerA theme 37 companies write about · 0 as a headwind · 21 as a tailwind
15 other companies' latest entry also says "Advanced".
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Showing 14 of the 37 companies compared. The sentences above are computed from all 37.Full recordFilings, disclosures and news, newest first
- FY2023AdvancedAnnual report
「During the current consolidated fiscal year, the Company conducted a tender offer under the Financial Instruments and Exchange Act for the common shares of its consolidated subsidiary Kanematsu Sustech Corporation and came to own 89.86% of its shares as of 20 March 2023.」
The tender offer for Kanematsu Sustech increased the ownership ratio to 89.86%. The Company stated that it was proceeding with the process of making the company a wholly owned subsidiary through a share consolidation and other measures, and that it planned to account for the company as 100%-owned after completion of the process. - FY2023-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 27 January 2023, the Company resolved to acquire the common shares of its consolidated subsidiary Kanematsu Sustech Corporation (hereinafter, “KSU”) through a tender offer under the Financial Instruments and Exchange Act (hereinafter, the “KSU Tender Offer”).」
The Company resolved to conduct a tender offer for all KSU shares to make KSU a wholly owned subsidiary. The offer ran from 30 January to 13 March 2023, with a planned purchase of 1,952,300 shares at ¥2,250 per share and total consideration of approximately ¥4.393 billion. The objective is to optimise the allocation of management resources across the Group for the use of GX, sustainability initiatives and new technologies.