Toshiba, to extend the offer period for NuFlare, to Jan. 16

FILE PHOTO: the logo of Toshiba Corp is seen on a printed circuit board in this photo illustration taken in Tokyo July 31, 2012. (REUTERS photo/Yuriko Nakao/File Photo

TOKYO (Reuters) – Toshiba Corp said on Monday it would be the extension of the period of bid for the chip-equipment unit, NuFlare Technology, Inc., until Jan. 16.

The expansion of the range of the original is permitted. 25, was requested by NuFlare and to provide its shareholders with a sufficient period of time for consideration, after Hoya Corp made a counter-offer for NuFlare, Toshiba said.

Toshiba, which owns 52.4% of NuFlare, it is aimed at the complete control of NuFlare, to reallocate resources in order to focus on the future.

The optical products maker Hoya has offered to 12,900 yen per NuFlare share, or $1.4 billion – is a rare and unsolicited bids in Japan, topping, and Toshiba will provide an area of 11,900 yen for every share of which he is not the owner.

It will be at least two-thirds of NuFlare, which means Toshiba would have to sell part of its stake, but is due the company’s board on Friday decided not to accept Hoya offer, according to the chip-equipment unit, was at the core of the group.

NuFlare, said in a statement on Monday that it would continue to support Toshiba’s offer, adding that he would have to decide how to respond to the Hoya’s offer, and after the measurement, the Toshiba offer.

Reporting Makiko Yamazaki; Editing by Muralikumar Anantharaman and Stephen Coates

Recent posts

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular