Yamato Material To Go Private Via MBO

Yamato Material Co., Ltd., a listed supplier of a wide variety of containers and materials, announced that Yamato approved a tender offer by an investment vehicle set up by the CEO and other founding family members. The TOB price is set at 585 yen, a 41.62% premium over a 3-month average. Mizuho Bank is ready to provide up to about 2.4 billion yen in financing. Yamato will be delisted upon the successful outcome of the deal.