JX Nippon Mining & Metals Corporation made an offer to acquire 63.19393% stake in TATSUTA Electric Wire and Cable Co., Ltd. from the group of shareholders for ¥28 billion.
December 20, 2022
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JX Nippon Mining & Metals Corporation made an offer to acquire 63.19393% stake in TATSUTA Electric Wire and Cable Co., Ltd. (TSE:5809) from the group of shareholders for ¥28 billion on December 21, 2022. As per the terms, the offer per share is ¥720. Upon completion, TATSUTA Electric Wire and Cable Co., Ltd will become a wholly owned subsidiary of JX Nippon. The Tender Offer is scheduled to commence as soon as the clearance under competition laws of each relevant country and other conditions precedent are satisfied. The offer is conditional upon a minimum of 18,448,182 shares being tendered. If the total number of Tendered Share Certificates falls short of the lower limit to be purchased (18,448,182 shares), JX Metals will not purchase any of the Tendered Share Certificates. If the total number of the Tendered Share Certificates is equal to or greater than the lower limit to be purchased, JX Metals will purchase all of the Tendered Share Certificates. As of September 26, 2023, Tender Offeror now expects to complete
the procedures and measures and commence the Tender Offer in December 2023 at the earliest, and will continue its efforts toward completing them as soon as possible.
Daiwa Securities Co. Ltd. acted as financial advisor to JX Nippon Mining & Metals Corporation.
TATSUTA ELECTRIC WIRE AND CABLE CO., LTD. is mainly engaged in the manufacture and sale of electric wires, cables and related products. The Company operates its business through two business segments. The Electric Wire and Cable segment includes the telecommunication wire business, which manufactures and sells wires for infrastructure and general industrial machinery, and the equipment wire business, which manufactures and sells wires for factory automation and precision industrial machinery. The Electronic Materials segment includes the functional materials business, which manufactures and sells functional materials for electronic devices, such as electromagnetic wave shielding films and conductive pastes, and the fine wire business, which manufactures and sells ultra-fine wires for wiring electronic components. Other businesses include the equipment system products business, optical components business, and environmental analysis business.
JX Nippon Mining & Metals Corporation made an offer to acquire 63.19393% stake in TATSUTA Electric Wire and Cable Co., Ltd. from the group of shareholders for ¥28 billion.
TATSUTA ELECTRIC WIRE AND CABLE CO., LTD. 
