Minebea extends tender offer for Shibaura Elec. to Sept. 11

Minebea extends tender offer for Shibaura Elec. to Sept. 11

MinebeaMitsumi has extended its tender offer for Shibaura Electronics until September 11, according to recent developments. This move comes in response to Yageo's latest bid hike, which saw the company raise its offer to JPY6,635 (US$44.64) per share [1].

Yageo's bid increase, from JPY6,200 to JPY6,635, has led MinebeaMitsumi to maintain its offer at JPY6,200 per share. Yoshihisa Kainuma, chairman and CEO of MinebeaMitsumi, stated that the company's bid is reasonable under current conditions and that they would not escalate it further. MinebeaMitsumi has also emphasized its decision to avoid confusing shareholders by sticking to the JPY6,200 price point [1].

The tender offer process has been marked by several deadline extensions, with MinebeaMitsumi attributing these to complications from its own stock repurchase program. The company has stated that it will not extend the tender offer deadline past September 11 unless legally obliged to do so [1].

Meanwhile, Yageo is awaiting clearance from Japan's Foreign Exchange and Foreign Trade Act (FEFTA) review. The review period has been extended twice, with the current deadline set for September 1. If Yageo passes this regulatory hurdle, MinebeaMitsumi's fixed bid may compel it to consider alternative countermeasures [1].

The outcome of this competitive acquisition battle remains uncertain. Both companies are maintaining firm positions, and stakeholders will be closely watching whether Yageo can secure the necessary approval and what strategic moves MinebeaMitsumi might employ in response. The result will significantly impact the direction of Shibaura Electronics amid a shifting global semiconductor landscape.

References:
[1] https://www.digitimes.com/news/a20250822PD226/yageo-acquisition-price.html