The company will offer USD 17.68 a share, spending a total of USD 452.874 million to acquire Sanyo Special Steel.
Jan 31, 2025
Nippon Steel Corporation has made a tender offer of USD 456 million to acquire Sanyo Special Steel Company Limited.
As per the statement, the company will offer USD 17.68 (2,750 yen) a share, or a 37 percent premium over Sanyo Special Steel’s closing price, spending a total of USD 452.874 million (70.45 billion yen).
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Sanyo Special Steel Group manufactures bearing steel and other products that incorporate high-cleanliness steel manufacturing technology. The Group’s bearing steel has the largest market share in Japan and is used in various arenas. In 2019, the company became a subsidiary of Ovako AB, a wholly owned subsidiary of Nippon Steel Corporation, and now it intends to directly take the subsidiary under its wing.
