C.I. Takiron (TYO:4215)said the tender offer by API, a subsidiary of Itochu, was successful, leading to changes in major shareholders and affiliated companies, according to its filing last Friday.
The tender offer, which ran from Aug. 6 to Sept. 18, aimed to purchase a minimum of 10.71 million shares in C.I. Takiron.
API acquired over 34.2 million shares, representing 35.06% of the voting rights, effective Sept. 26.
As a result, API will become a major shareholder and affiliated company.
Moving forward, API and Itochu plan to make additional acquisitions to become sole shareholders, ultimately delisting C.I. Takiron from the Tokyo Stock Exchange.
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