Idemitsu Kosan Acquires Majority Stake in Japanese Agchem Firm Through Tender Offer

Idemitsu Kosan says it has acquired 69.67% stake in agchem company SDS Biotech (Tokyo) through a previously announced tender offer. Idemitsu started a tender offer on May 11 to acquire common shares and new share subscription rights of SDS Biotech and the tender offer closed on June 8. SDS Biotech is a manufacturer and distributor of agchems. Idemitsu had set the number of shares held by MH Capital Partners, the largest shareholder of SDS Biotech with a stake of 53.39%, as the minimum number of shares to be purchased in the tender offer. The total number of...

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