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RYOMO SYSTEMS hits limit-up on 5,200 yen per share TOB by MITSUBA and Chubu Electric Power
RYOMO SYSTEMS CO.,LTD. <9691> remained locked at its daily limit-up. After the close of trading on the 14th, MITSUBA Corporation <7280> and Chubu Electric Power Company,Incorporated <9502> announced that they will launch a TOB (tender offer bid) for RYOMO SYSTEMS with the aim of taking it private. The purchase price is set at 5,200 yen per share. RYOMO SYSTEMS' stock price moved toward the TOB price. The minimum number of shares to be purchased is 537,260, with no upper limit set. The tender offer period runs from the 15th to July 8. If the TOB is successful, RYOMO SYSTEMS is expected to be delisted. RYOMO SYSTEMS has expressed its support for the TOB. The Tokyo Stock Exchange designated RYOMO SYSTEMS as a security under supervision (under confirmation) as of the 14th.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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