Solasto Corporation
Notice Regarding Changes to Tender Offer Conditions by MP-2605 Inc. for Ordinary Shares of Solasto Corporation (Securities Code: 6197) as Part of MBO Implementation
On April 9, 2026, MP-2605 Inc. announced changes to the conditions of its tender offer for ordinary shares of Solasto Corporation, setting the lower limit of the number of shares to be acquired at 26,115,700 shares.
Key Figures
- Number of Shares Planned to be Acquired (Ordinary Shares): 56,424,284 shares (after change)
- Lower Limit of Number of Shares Planned to be Acquired: 26,115,700 shares (after change)
- Number of Shares Owned by Target Employee Shareholding Association: 2,321,240 shares (ownership ratio 2.56%)
AI要約
Overview of Tender Offer and Changes
MP-2605 Inc. commenced its tender offer for ordinary shares of Solasto Corporation on March 25, 2026, and has now changed some of the offer conditions. The changes include lowering the lower limit of the number of shares planned to be acquired from 28,530,600 shares to 26,115,700 shares and excluding shares held by the employee shareholding association from the acquisition targets. The tender offer is part of an MBO aimed at taking the target shares private.
Response of the Employee Shareholding Association and Daito Trust Construction Co., Ltd.
The target employee shareholding association agreed on April 8, 2026, to continue holding shares under the acquirer's proposed arrangement and decided not to tender approximately 2,321,240 shares (ownership ratio 2.56%) in the tender offer. Daito Trust Construction Co., Ltd. holds 31,805,100 shares subject to the non-tender agreement and has agreed not to tender its shares and to support the agenda for stock consolidation. After the tender offer is completed, squeeze-out procedures and triangular share exchanges will be implemented, with the employee shareholding association, MBK Fund, and Mr. Noda continuing their investment through the acquirer's parent company.
