Japan's Eneos says tender offer for Nippo completed

  • 12/25/2021
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TOKYO, Dec 25 (Reuters) - Japan"s Eneos Holdings (5020.T) said on Saturday that a tender offer aimed at taking Nippo Corp (1881.T) private has succeeded with 35.86% of shareholders agreeing to sell their stake in the Japanese roadbuilder. Oil refiner Eneos owns 57% of Nippo, a 114-year old Tokyo-based company. The tender offer was for the remaining 43% of the company that Eneos does not already own. Some minority shareholders had been opposed to the tender offer, saying it valued Nippo too low. read more

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