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Mitsubishi Chemical plans $1-billion tender offer to gain control of Taiyo Nippon Sanso

3:11 PM MDT | May 26, 2014

Mitsubishi Chemical plans to acquire a majority stake in Japan’s leading industrial gases maker, Taiyo Nippon Sanso (Tokyo), according to a filing by Mitsubishi to the Tokyo Stock Exchange (TSE). Mitsubishi Chemical increased its stake in Taiyo Nippon Sanso to 27% from 15% last December. Mitsubishi now plans to launch a public tender offer to up its stake in Taiyo Nippon Sanso to 51% in a deal valued at about ¥107 billion ($1.05 billion), the filing says. The offer to buy as many as 104 million Taiyo Nippon Sanso shares for ¥1,030/share will begin in early...

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