JSR Corporation (TSE:4185) offered a take overbid to acquire 17.9% stake in Medical & Biological Laboratories Co., Ltd. (JASDAQ:4557) for ¥2.8 billion on February 9, 2015. The stake represents 4.7 million shares at a purchase price of ¥600 per share. On completion of the transaction, JSR will hold 51% stake in Medical & Biological Laboratories Co., Ltd. The Board of Directors of Medical & Biological Laboratories passed the resolution as follows to declare agreement as well as leaving to the judgment of the shareholders on whether or not to subscribe to the tender offer. The tender offer period is February 10, 2015 to March 11, 2015. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as independent 3rd party appraiser and financial advisor and Sato Sogo Law Office acted as legal advisor for Medical & Biological Laboratories. Nomura Securities Co., Ltd. acted as independent 3rd party appraiser, tender offer representative for JSR Corporation.

JSR Corporation (TSE:4185) completed the acquisition of 13.88% stake in Medical & Biological Laboratories Co., Ltd. (JASDAQ:4557) for ¥2.2 billion on March 11, 2015. 3.59 million shares were purchased in the tender offer. The settlement will start from March 18, 2015.