Pentel Plus and stocks exceed 50%. Talks with KOKUYO canceled. Dec 13 22:39
With a hostile acquisition of Pentel by a major stationery maker, KOKUYO, Pentel announced that it has secured more than 50% of the shares together with the plus aiming for a capital alliance. It was also revealed that the discussion to build a cooperative relationship with Kokuyo, the largest shareholder, was canceled.
For the writing instrument manufacturer Pentel, KOKUYO embarked on a hostile takeover, and rival Plus aimed to acquire shares in an attempt to prevent it.
Pentel announced the share acquisition ratio on the 13th. According to this, in addition to acquiring approximately 30% of shares in Plus, it is said that if the shareholders supporting the capital partnership of Pentel and Plus are combined, they have secured more than 50%.
KOKUYO, on the other hand, has launched a hostile takeover with the goal of acquiring a majority stake, but only 45.66% have been secured.
In response to this situation, Pentel also announced that it would cancel discussions to establish a cooperative relationship with KOKUYO.
Pentel commented, “It is a sign that many shareholders sympathized with the values that Pentel aimed for and recognized the significance of their existence, not the amount of money.”
KOKUYO says, “We are confirming the facts and there are no comments at this stage.”