Carlyle Group Inc (CG) is in discussions for a potential acquisition of Japan's Makino Milling Machine to counter a $1.81 billion hostile takeover bid from Nidec, Reuters reported Friday citing four people familiar with the matter.
However, Carlyle has turned "more cautious" amid the US tariff wars and it is not clear yet whether the private equity giant will put forward a formal offer, the sources told Reuters.
This comes after Nidec launched its tender offer on April 4 for 11,000 yen ($77.30) per share to take the machine tool manufacturer private. Makino asked shareholders not to tender to Nidec, according to the report.
Makino's board approved a "poison pill" takeover defence last week, which issues free stock warrants to existing shareholders to dilute Nidec's stake and block a takeover, Reuters said, adding that it still requires shareholder approval at an annual general meeting in June.
Nidec filed for an injunction to stop the "poison pill" on Wednesday, according to the report.
Carlyle, Makino and Nidec did not immediately respond to MT Newswires' request for comment on the matter.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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