May 14, 2012

Daiwa PI To Exit Investment In Meisei Elec.

IHI Corp.,  a heavy industrial machines conglomerate, announced that IHI has made a tender offer for Meisei Electric Company, a PE-backed measuring equipments manufacturer. The TOB price is set at 90 yen, an 8.16% discount to its 3-month average. Major shareholders Daiwa SMBC Principal Investment Co., an investment unit of Daiwa Securities Group and NEC agreed to the offer. Meisei will remain on the stock exchange after the deal. Daiwa invested in Feburary 2003.

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