Tanaka Galvanizing To Go Private Via MBO

Tanaka Galvanizing Co., Ltd., the largest specialist processor of hot galvanizing steel structures and steel products, announced that Tanaka approved a tender offer from Tanaka Holding Co., Ltd. an investment vehicle set up by Tanaka's founding family. The TOB price is set up at 200 yen, a 48% premium over a 3-month average. The deal size is about 1.3 billion yen. SMBC is ready to provide up to 2 billion in financing. Tanaka went public on the Jasdaq exchange in 1997.