Home
Market News
Breaking stock market headlines
Earnings Flash
Breaking coverage of earnings reports, forecasts & dividend updates
Trends
Market movers, trading patterns & key market indicators
Disclosures
Official filings & reports from listed Japanese companies
Explorer
Stock lists filtered by fundamental & technical metrics
Tohoku Steel hits daily limit up on 4,491 yen per share TOB by Daido Steel
Tohoku Steel Co., Ltd. <5484> shares hit their daily limit high with unexecuted buy orders after the company announced following the market close on May 15 that it received a tender offer bid (TOB) from its largest shareholder, Daido Steel Co., Ltd. <5471>, aimed at taking the company private. With Daido Steel holding more than 30% of Tohoku Steel, the TOB price is set at 4,491 yen per share, toward which the stock price is converging.
The tender offer period runs from May 18 to June 29. Shares held by the HIKARI TSUSHIN,INC. <9435> group, Okaya & Co., Ltd. <7485>, and TYK CORPORATION <5363> will be acquired through a share buyback by Tohoku Steel after the TOB is completed. In response, the Tokyo Stock Exchange designated Tohoku Steel shares as a security under supervision (under review) as of May 15.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
Related Articles
448 stocks rise, 1,073 fall on Tokyo Stock Exchange Prime Market as of 10:00 a.m.
Aidma Holdings continues to rise on speculation after Ascender Capital disclosed 5.06% stake
GMO Payment Gateway surges to daily limit up as payment processing business drives 22% increase in interim net profit for March
NICHIAS CORPORATION sees recovery in semiconductor-related demand
FaithNetwork hits daily limit up on double-digit revenue and profit growth forecast for March 2027, dividend raised by 2.50 yen
Kioxia hits daily limit high on strong Q1 earnings forecast
Recruit Holdings extends sharp gains on plan for 25% profit increase driven by HR technology growth in Europe and the U.S.
VRAIN Solution surges on focus on high-profit AI solution business model
LIFEDRINK COMPANY surges on plan for 22% operating profit increase in FY March 2027 with three new production lines
TERUMO CORPORATION surges with gap up on forecast of consecutive record profits for fiscal March 2027