Japan's Eneos says tender offer for Nippo completed
TOKYO (Reuters) - Japan's Eneos Holdings said on Saturday that a tender offer aimed at taking Nippo Corp 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.
(Reporting by Daniel Leussink and Makiko Yamazaki; Editing by Edmund Klamann)
(c) Copyright Thomson Reuters 2021. Click For Restrictions -