[Alpha Biz= Paul Lee] MBK Partners, a private equity firm currently under investigation by Korean prosecutors over the Homeplus case, is reportedly advancing its bid to acquire Makino Milling Machine Co., a Japanese machine tool manufacturer.
According to the Nihon Keizai Shimbun (Nikkei) on May 27, MBK has secured the exclusive negotiation rights among several investment funds that proposed stock purchases for Makino.
MBK aims to acquire the company through a tender offer (TOB), with an expected offer price exceeding 11,000 yen (approximately 105,000 KRW) per share.
Previously, in an attempted hostile takeover, Japanese motor manufacturer Nidec launched a tender offer in April at 11,000 yen per share. Had Nidec succeeded in acquiring all outstanding shares, the deal’s value was estimated to exceed 250 billion yen (approximately 2.4 trillion KRW).
However, facing resistance from Makino, Nidec withdrew its tender offer earlier this month.
Details regarding the volume of shares MBK plans to purchase in its tender offer have not yet been disclosed.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
