Nidec Corporation (TSE:6594) made an offer to acquire Takisawa Machine Tool Co., Ltd. (TSE:6121) from a group of shareholders for ¥16.6 billion on July 13, 2023. Nidec Corporation (TSE:6594) reached an agreement to acquire Takisawa Machine Tool Co., Ltd. from a group of shareholders on September 13, 2023. As per the transaction, Nidec Corporation will acquire 6.38 million shares of Takisawa Machine Tool Co., Ltd. at ¥2,600 per share. If shareholders agree to its terms, Takisawa will become a subsidiary of Nidec and will likely be delisted. As of September 13, 2023, Takisawa's management accepted the proposal. The offer is planned to commence from September 14, 2023 and is expected to close on November 13, 2023. As of September 13, 2023, the tender offer period starts from September 14, 2023, to October 27, 2023. As of September 21, 2023, the Tender Offeror has amended the commencement from September 14, 2023. As of October 5, 2023, after the Tender Offeror commenced, received approval of the commencement of economic concentration, from the Vietnam Competition Commission. Nidec will carry out squeeze-out procedures.

TMI Associates acted as legal advisor to Nidec Corporation. Daiwa Securities Co. Ltd. acted as financial advisor to Takisawa Machine Tool Co., Ltd. Anderson Mori & Tomotsune LPC acted legal advisor to Takisawa Machine Tool Co., Ltd. Daiwa Capital Markets acted as financial advisor to Nidec Corporation. Ken Lebrun of Davis Polk & Wardwell LLP acted as legal advisor to Nidec Corporation.

Nidec Corporation (TSE:6594) completed the acquisition of Takisawa Machine Tool Co., Ltd. (TSE:6121) from a group of shareholders on November 13, 2023.