The acquisition contest for Japan's NTC thermistor manufacturer Shibaura Electronics is approaching its conclusion, with the final outcome now dependent solely on regulatory approval, reports Nikkei.
Since August 23, Yageo Corporation has significantly escalated its bid, increasing its tender offer price (TOB) from JPY6,635 (approx. US$45) to JPY7,130 per share—surpassing MinebeaMitsumi's final offer of JPY6,200 per share by roughly 15%. The move widened the gap between the two contenders and raised Yageo's total acquisition value to approximately JPY110 billion.
Yageo described the latest price hike as a demonstration of its commitment to a long-term strategic partnership and confidence in the synergistic potential of integrating Shibaura Electronics into its sensor business. The company also extended the public TOB period until September 8, 2025, in line with Japanese regulations, signaling its determination to secure shareholder support amid uncertainties over regulatory approval.
MinebeaMitsumi, which had previously confirmed August 28 as the conclusion date for its acquisition efforts, withdrew from the bidding war after stating that its JPY6,200 per share offer represented a reasonable and justifiable maximum.
The acquisition's finalization now hinges on Japan's Foreign Exchange and Foreign Trade Act review. Yageo has received two notifications indicating that the review period will be extended, with the current deadline set for September 1. Approval timing will be decisive in determining whether Yageo can close the acquisition before the TOB deadline.
Article edited by Jack Wu
