Sparx Group (TYO:8739) said ARTS-3 Inc., an entity under its Japan Monozukuri Mirai Fund, will launch a tender offer to acquire SNT Corp. (TYO:6319) at 403 yen per share, according to a Friday filing on the Tokyo Stock Exchange.
The offer, running from March 3 to April 14, aims to make the automotive parts supplier a wholly owned subsidiary.
ARTS-3 has secured agreements with key shareholders, including Topre Corp (TYO:5975) and Nippon Steel (TYO:5401), covering 22.12% of SNT's outstanding shares.
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