PHC Holdings surges for first time in three days after disclosing receipt of preliminary acquisition proposal from TOHO HOLDINGS
PHC Holdings Corporation <6523> rebounded sharply for the first time in three sessions. Before the opening bell on Oct 1, PHC Holdings issued a statement in response to a Bloomberg report on Sep 30 that TOHO HOLDINGS CO., LTD. <8129> was considering acquiring PHC Holdings. PHC Holdings confirmed it received a non-binding preliminary proposal as one of the options being explored to enhance corporate value. Speculation surrounding a potential tender offer (TOB) for PHC Holdings spread, drawing buying. According to the report, the acquisition price is expected to exceed 200 billion yen. PHC Holdings said no decision has been made, adding it will promptly disclose any matters requiring announcement once determined.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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