KKR Plans to Offer to Acquire Taiyo Holdings
By Nicholas G. Miller
KKR intends to make a tender offer to acquire Japanese electronic materials manufacturer Taiyo Holdings for 4,750 Japanese Yen (US$29.88) a share.
The price represents a 117% premium to the six-month average unaffected closing price of Taiyo shares as of May 27, 2025.
Taiyo said its board will support the offer. Taiyo investors DIC and Kowa have also each agreed to sell their shares to Taiyo Holdings through a share consolidation and buyback. Meanwhile, Oasis Management agreed to tender its shares representing about 16% of Taiyo outstanding shares.
With these agreements, KKR has secured support for the deal from shareholders representing about 42% of the company's outstanding shares.
Following the privatization, Taiyo Holdings' founding family plans to re-invest in KJ005HD, the KKR-managed investment vehicle that will own Taiyo Holdings.
"As a private company, we will be able to pursue long-term investments in our core technologies with greater focus and stability, which we could not achieve on our own," Taiyo Chief Executive Hitoshi Saito said.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
March 31, 2026 12:10 ET (16:10 GMT)
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