MinebeaMitsumi (TYO:6479) will launch a tender offer on May 2 to acquire all outstanding shares of sensor maker Shibaura Electronics (TYO:6957), after confirming all preconditions are met, according to a Thursday filing on the Tokyo Stock Exchange.
The company aims to take Shibaura private and later transfer 10.9% of shares to a unit of Advantage Partners, which will co-invest. A 5% stake will also be transferred to Advantage after a planned squeeze-out.
Shibaura's board supports the offer.
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