Twinbird Corporation

Japan

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Japanet Announces Withdrawal of TOB for Twinbird

Japanet Holdings, a major television shopping company, announced on the 2nd that it would withdraw its TOB (takeover bid) for Twinbird, a home appliance manufacturer based in Tsubame City, Niigata Prefecture. The company stated that it "takes seriously" Twinbird's opposition to the TOB expressed at the end of last month.

Twinbird Corpo… ▲

6897.JP · Capital · Positive Japanet withdraws its TOB, removing the takeover pressure that Twinbird opposed.

Japanet Holdings · Capital · Negative Japanet abandons its TOB for Twinbird after facing opposition, failing to acquire the target.

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時事通信·32dRead more →

6897.JP

Twinbird announces it is carefully considering Japanet's tender offer bid

Home appliance manufacturer and seller Twinbird announced on the 13th that its board of directors and a special committee are carefully considering the tender offer for its shares being explored by Japanet Holdings, and that it plans to promptly announce its views once the necessary review is complete. Japanet had disclosed on June 19 that it intended to launch a tender offer at 800 yen per share aiming for full subsidiary status, conditional on Twinbird's agreement. Also on the 13th, Japanet announced that it had signed a confidentiality confirmation letter with Twinbird dated the 9th to advance specific discussions. Twinbird stated that it does not anticipate the process taking until late October, when Japanet had planned to commence the offer.

Twinbird Corpo…

6897.JP · Capital · Neutral Twinbird is the target of a tender offer at 800 yen per share; board is considering it, outcome uncertain.

Japanet Holdings · Capital · Neutral Japanet is the bidder seeking full subsidiary status; deal depends on Twinbird's agreement.

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