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KKR offers more for Hitachi Kokusai Electric

Staff Writer | November 24, 2017
KKR & Co has boosted its bid price for Hitachi Kokusai Electric for a second time.
Hitachi Kokusai
Acquisition   3,132 yen a share
The new price of 3,132 yen a share, which values Hitachi Kokusai at about $3 billion, is 8 percent more than its previous bid when the tender offer was launched in October and 25 percent higher than a proposed price first floated in April.

But it was below Hitachi Kokusai Electric’s previous closing share price of 3,290 yen on Wednesday. Shares in the Japanese manufacturer, which has seen its earnings surge amid booming demand for chips, finished trade up 1.2 percent at 3,330 yen.

The tender offer, originally slated to close on Friday is now due to run until December 8, Hitachi Kokusai said, adding that KKR’s revised offer was final. KKR did not issue a statement of its own and declined comment.