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

Credit: Nippon Steel
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% premium over Sanyo Special Steel’s closing price on Friday, spending a total 70.45 billion yen ($455.66 million), it said in a statement.
($1 = 154.7100 yen)
(By Kantaro Komiya; Editing by Chang-Ran Kim)
Read More: Activist Ancora to push US Steel to drop Nippon merger and oust CEO
More News
Indonesia grants small businesses access to coal, metals mines
The government plans to issue technical regulations detailing the changes within six months.
February 18, 2025 | 07:07 am
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments