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Nippon Steel launches $456 million bid to acquire Sanyo Special Steel

Global NewsXJanuary 31, 2025Last Updated: January 31, 2025

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Nippon Steel launches 6 million bid to acquire Sanyo Special Steel

TOKYO : Nippon Steel will launch a $456 million tender offer to make Sanyo Special Steel a wholly owned unit, Japan’s biggest steelmaker said on Friday.

Nippon Steel will offer 2,750 yen ($17.78) a share, or a 37 per cent premium over Sanyo Special Steel’s closing price on Friday, spending a total 70.45 billion yen ($455.66 million), it said in a statement.

($1 = 154.7100 yen)

Source: CNA

Global NewsXJanuary 31, 2025Last Updated: January 31, 2025

0 0 Less than a minute

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