Shares of Global surge as Daito Trust Construction launches a tender offer for the company◇
Shares of Global <3271> surged after the company announced following the market close on the 6th that it has received a tender offer from Daito Trust Construction <1878> aimed at taking the company private. With the offer price set at \1,280 per share, the stock price climbed to narrow the gap toward this level.
Daito Trust Construction plans to acquire all outstanding shares of Global, excluding those held by the parent company, SBI Holdings <8473>, with the ultimate goal of making Global a wholly owned subsidiary through subsequent squeeze-out procedures. The offer targets the purchase of 13,609,024 shares (with a minimum of 4,165,600 shares and no upper limit), and the tender offer period will run from April 7 to May 22. Upon successful completion of the transaction, Global shares are expected to be delisted. In response, the Tokyo Stock Exchange designated the stock as a "Security under Supervision (Confirmation)" as of the 6th. ◇
Source: MINKABU PRESS
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