Fujitsu Limited completed the acquisition of an additional 34.89% stake in Fujitsu Frontech Limited for ¥12.9 billion.
The Board of Fujitsu Frontech Limited resolved the tender offer on July 30, 2020. The Board of Directors meeting of Fujitsu Frontech recommends that all shareholders of Fujitsu Frontech apply for the tender offer. A special committee has been established by Fujitsu Frontech to oversee the tender offer. The tender offer period will commence on July 31, 2020 and will run till September 14, 2020. As of September 11, 2020, the tender offer will close on September 29, 2020 and commencement of payment will be from October 6, 2020. Mizuho Securities Co., Ltd. acted as financial advisor and tender offer agent to Fujitsu Limited in respect of the tender offer. Anderson Mori & Tomotsune LPC acted as legal advisor to Fujitsu Frontech Limited.
Fujitsu Limited (TSE:6702) completed the acquisition of an additional 34.89% stake in Fujitsu Frontech Limited (TSE:6945) for ¥12.9 billion on September 29, 2020. A total of 8.4 million shares were tendered. Since the total number of shares tendered exceeded the minimum number of shares to be purchased (3.3 million), Fujitsu will purchase all of the tendered shares.