Daiwabo To Make O-M Ltd. 100% Unit via TOB

Daiwabo Holding Co., Ltd., a textile-based conglomerate, announced that Daiwabo has made a take-over bid for O-M Ltd., a listed manufacturer of automatic machines, machine tools, and other machinery. The TOB price is set at 540 yen, a 76% premium over its 3-month average. The deal size is valued at a maximum of 12.3 billion yen. Daiwabo, originally a 27% equityholder of O-M, will make O-M a fully owned subsidiary through this deal.