HOYA Corporation cancelled the acquisition of NuFlare Technology, Inc. from group of sellers.
The offer is subject to certain procedures and measures that are required under domestic and overseas antitrust and other applicable laws and other similar regulations are completed, certain procedures and measures that are required under the Foreign Exchange and Foreign Trade Act are completed, the tender offer for NuFlare shares by Toshiba Electronic Devices & Storage Corporation (Toshiba D&S) announced on November 13, 2019 is not successfully completed (including a situation where the Toshiba D&S Tender Offer is still continuing) and minimum of 7.634 million shares (66.67%) are offered in the offer. HOYA plans for the tender offer period for the Tender Offer to be 30 business days in principle. HOYA aims to commence the Tender Offer in April 2020. Daiwa Securities Co. Ltd. acted as financial adviser for HOYA in the offer.
HOYA Corporation (TSE:7741) cancelled the acquisition of NuFlare Technology, Inc. (JASDAQ:6256) from group of sellers on January 17, 2020. HOYA Corporation will not commence the tender offer, because it has become evident that one of the conditions for the tender offer commencement, that the Toshiba D&S Tender offer is not successfully completed will not be fulfilled. Deloitte Tohmatsu Financial Advisory LLC and Shinko Securities Co., Ltd. acted as financial advisor and Hibiya Park Law Office acted as legal advisor to NuFlare Technology, Inc. Ken Lebrun of Davis Polk & Wardwell LLP acted as legal advisor to HOYA Corporation.