Daido Steel Co., Ltd.
Notice on the Result of the TOB for Toho Special Steel and Changes in Subsidiaries
Through a public acquisition, acquire Toho Special Steel and make the target company a consolidated subsidiary of the tenderer. Purchase price is 4,491 yen per share, planned number of shares to be purchased 1,936,059 shares. After the acquisition, the tenderer will hold 57.93% of voting rights. Settlement start date: 2026/7/6.
Key Figures
- Purchase price, etc.: 4,491 yen
- Planned number of shares to be purchased: 1,936,059 shares
- Voting rights ratio after the tender: 57.93％
AI要約
Key points of this matter
Daido Steel will acquire Toho Special Steel by a tender offer and will make Toho Special Steel a consolidated subsidiary after completion. The purchase price is 4,491 yen per share, and the planned number of shares to be purchased is 1,936,059. The voting rights ratio after the tender will be 57.93%, which is expected to significantly affect the target's major shareholder structure. Settlement start date is July 6, 2026.
Outlook and impact
The tender offer ended on June 29, 2026, and the subsidiary change will be realized with the settlement start date. Going forward, through procedures such as a squeeze-out, delisting may be considered, and the target's market listing status is expected to change. Earnings impact after the tender offer is under review, and additional information will be disclosed promptly when available.
Daido Steel Co., Ltd.
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