Parker Hannafin To Tender Offer For TAIYO

TAIYO, Ltd., a listed hydraulic/pneumatic equipment maker, announced that TAIYO approved a tender offer by its largest shareholder (56.49%) Parker-Hannifin Corporation. The TOB price is set at 250 yen, a 103.3% premium over a 3-month average. Parker-Hannifin is a NYSE-listed global leader in motion and control technologies. Parker-Hannifin formed a capital and business alliance with TAIYO in Feb. 2014. TAIYO went public in March 2008.