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People & Business :: Companies

Mitsubishi Rayon’s Loss Narrows

10:40 PM MST | February 8, 2010 | Deepti Ramesh

Mitsubishi Rayon recorded a net loss of ¥12 billion ($133 million) for the nine months ended December 31, 2009, compared with a net loss of ¥22 billion in the year-ago period. Sales decreased by nearly 9%, to ¥257.5 billion. Mitsubishi Chemical announced last November that it will launch a tender offer to buy Mitsubishi Rayon in February 2010, and complete the acquisition by the end of March 2010. Mitsubishi Chemical is offering ¥380/share, valuing the deal at ¥220 billion ($2.5 billion). Mitsubishi Chemical announced earlier this month that...

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