Longreach targets Sanyo Logistics via tender offer
The Longreach Group, the Hong Kong-headquartered regional private equity firm, will launch a tender offer for Sanyo Electric Logistics, the JASDAQ-listed provider of logistics solutions, for a probable total transaction value of JPY17.9 billion ($200 million).
The offer price for the company is JPY1,750 ($19.40), a 54% premium over the last 6-month average trading price, with Longreach targeting at least a 75% stake. The target's parent, Sanyo Electric Co.,...
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