Topcon (TYO:7732) will go private in a management buyout backed by KKR and JIC Capital, with a tender offer at 3,300 yen per share, according to a company statement released Friday.
The bid, led by CEO Takashi Eto, represents a 99.5% premium to the stock's 12-month average before Dec. 9, 2024.
KKR will hold a majority stake via its Asian Fund IV, while JICC will invest through government-backed funds. Eto plans to reinvest post-buyout.
The deal aims to accelerate Topcon's shift from hardware to solutions, particularly in eye care and positioning systems.
KKR, which manages $18 billion in Japan, said it will support Topcon's international expansion. JICC, citing national security concerns, will help develop its space and defense business.
The tender offer is expected to begin by late July, pending regulatory approvals.
Price (JPY): $3256.00, Change: $+130, Percent Change: +4.03%
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