Japanese steel giant Nippon Steel Corporation announced that pursuant to a resolution adopted at its board of directors’ meeting, it has resolved to acquire the shares of common stock of Nippon Steel Trading Corporation through a tender offer. Nippon Steel offered 9,300 yen a share in a tender to take the trading firm private, which is expected to be launched around late February. Nippon Steel will eventually own 80% of the company with Mitsui & Co 20% if the deal succeeds and the company is delisted About Nippon Steel Trading Corporation Set up – 1977 Capital - JPY 16.389 billion Business Area - Marketing and import/export of steel, industrial supply and infrastructure, foodstuffs, textiles and others ---------------------------Existing Share HoldingNippon Steel - 34.54%Mitsui & Co -19.93%The Master Trust Bank of Japan - 7.57%Custody Bank of Japan - 3.74%Employee Stock Ownership - 1.36%DFA INTL SMALL CAP VALUE PORTFOLIO - 1.04%Custody Bank of Japan - 0.87% + 0.67%UBS AG LONDON - 0.62%JP MORGAN CHASE BANK - 0.58%
Japanese steel giant Nippon Steel Corporation announced that pursuant to a resolution adopted at its board of directors’ meeting, it has resolved to acquire the shares of common stock of Nippon Steel Trading Corporation through a tender offer. Nippon Steel offered 9,300 yen a share in a tender to take the trading firm private, which is expected to be launched around late February. Nippon Steel will eventually own 80% of the company with Mitsui & Co 20% if the deal succeeds and the company is delisted About Nippon Steel Trading Corporation Set up – 1977 Capital - JPY 16.389 billion Business Area - Marketing and import/export of steel, industrial supply and infrastructure, foodstuffs, textiles and others ---------------------------Existing Share HoldingNippon Steel - 34.54%Mitsui & Co -19.93%The Master Trust Bank of Japan - 7.57%Custody Bank of Japan - 3.74%Employee Stock Ownership - 1.36%DFA INTL SMALL CAP VALUE PORTFOLIO - 1.04%Custody Bank of Japan - 0.87% + 0.67%UBS AG LONDON - 0.62%JP MORGAN CHASE BANK - 0.58%
