Makino Milling Machine (TYO:6135) opposed Nidec Corp.'s (TYO:6594) 11,000 yen-per-share tender offer, urging shareholders to consider competing bids, according to a Thursday filing on the Tokyo Stock Exchange.
The machine tool maker said it received acquisition proposals from multiple third parties and had asked Nidec to delay its offer until May 9, but Nidec refused.
Makino also flagged pending regulatory approvals in China and the US, warning the bid could be delayed or withdrawn. It plans to submit a formal response later.
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