Nidec (TYO:6594) has withdrawn its tender offer for Makino Milling Machine following a ruling by the Tokyo District Court on May 7, according to its filing on May 8.
The court dismissed Nidec's petition for a provisional injunction against Makino's planned allotment of share options without contribution, according to a separate filing by Makino on May 8.
Makino had announced the share option plan on April 10 as a countermeasure to Nidec's unsolicited takeover.
Nidec said it would suffer damage if the machine tool maker proceeds with the granting of stock acquisition rights to existing shareholders.
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