Max Co. Ltd. completed the acquisition of remaining 35.39% stake in Kawamura Cycle Co. Ltd. from Nissin Medical Industries Co., Ltd.
January 08, 2013 at 11:00 pm EST
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Max Co. Ltd. (TSE:6454) made an offer to acquire remaining 35.39% stake in Kawamura Cycle Co. Ltd. (TSE:7311) from Nissin Medical Industries Co., Ltd. for approximately ¥950 million in cash on November 20, 2012. Max offered to acquire maximum of 9,051 shares of Kawamura for ¥0.11 million per share. The offer is subject to acquisition of a minimum of 527 shares. The tender offer period is from November 21, 2012 to January 9, 2013. The transaction is subject to shareholders of Kawamura Cycle Co. Ltd. The Board of Directors of Kawamura Cycle approved the transaction and the Board of Directors of max passed a resolution for the transaction on November 20, 2012. The takeover bid was conducted on the understanding that, by means of the takeover bid and the series of procedures that follow, Max Co. Ltd plans to make Kawamura Cycle a wholly owned subsidiary and terminate the listing of Kawamura Cycle's common shares. The transaction settlement will start from the date January 17, 2013. Deloitte Tohmatsu Financial Advisory Co., Ltd. acted as financial advisor and Kuboi & Partners Law Office acted as legal advisor to Kawamura Cycle Co.,Ltd. Nomura Securities Co., Ltd. acted as financial advisor to Max Co. Ltd.
Max Co. Ltd. (TSE:6454) completed the acquisition of remaining 35.39% stake in Kawamura Cycle Co. Ltd. (TSE:7311) from Nissin Medical Industries Co., Ltd. on January 9, 2013. Minimum tender is reached.
MAX CO., LTD. is a manufacturer of industrial equipment, such as nailing machines, air compressors, reinforcing bar tying machines, battery charge tools, bathroom heaters, ventilators and desiccators, as well as 24-hour ventilation systems, office equipment, such as staplers, time recorders, text display equipment, auto staplers and others, as well as home care & rehabilitation (HCR), such as standard, special wheel chairs and others. The Company has three business segments. The Office Equipment segment is engaged in the manufacture and sale of office equipment and stationery related products. The Industrial Equipment segment is engaged in the manufacture and sale of building equipment and housing equipment, among others. The HCR segment is engaged in the manufacture and sale of nursing care and welfare equipment.
MAX CO., LTD. 
