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Tohoku Steel hits daily limit up on 4,491 yen per share TOB by Daido Steel

Mon May 18, 2026 9:54 am JST Catalyst

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.

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