Key Facts
• On August 14, Minebea Mitsumi announced a TOB price increase for Shibaura Electronics.
• The price was raised from ¥5,500 to ¥6,200 per share, matching Yageo’s offer.
• Yageo, a Taiwanese electronic components company, is also bidding for Shibaura Electronics.
• Minebea positions itself as a “white knight” against Yageo’s unsolicited TOB.
• Both companies initially set August 18 as the deadline for their bids.
• Minebea extended its deadline to August 28 following the price adjustment.
• The focus now shifts to whether Yageo will further increase its offer.
Summary
Minebea Mitsumi, a leading bearing manufacturer, has raised its tender offer bid (TOB) price for Shibaura Electronics from ¥5,500 to ¥6,200 per share, aligning with the offer made by Taiwanese competitor Yageo. This move positions Minebea as a “white knight” in response to Yageo’s unsolicited bid. Initially, both companies set August 18 as the deadline for their offers, but Minebea has extended its deadline to August 28 following the price adjustment. The competition for Shibaura Electronics intensifies as attention turns to whether Yageo will counter with a higher bid.
