IHI To Make Group Companies Private Via Tender Offer

IHI Co., one of the major comprehensive heavy electric machinery manufacturers, announced that IHI will make a tender offer for its listed subsidiary, IHI Construction Materials Co., Ltd. The TOB price is set at 175 yen, a 38.89% premium over its 3-month average. IHI will also make another offer for its listed subsidiary, IHI Transport Machinery Co., Ltd.. The TOB price is set at 670 yen, a 52.97% premium over its 3-month average. Both companies will be delisted upon successful outcome of the deals.