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23 minutes ago
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KKR Launches Tender Offer for Topcon
TOKYO, July 28, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, announced today that it will launch its tender offer ("Tender Offer") for the common shares and share acquisition rights, etc. of Topcon Corporation ("Topcon" or the "Company"; TSE stock code 7732). The Tender Offer will be made through TK Co., Ltd. ("Offeror"), an entity owned by the investment funds managed by KKR. The Tender Offer will commence on July 29, 2025 and will run until September 9, 2025. The Offeror will commence the Tender Offer to acquire all outstanding common shares and share acquisition rights (excluding treasury shares held by Topcon) with a tender offer price of JPY 3,300 per common share and JPY 193,400 per 7th Series Share Acquisition Right.1 Topcon is a global leader in the manufacturing of technology, leveraging its strengths in optical technology and precision measurement technology since its founding. Topcon is expanding its business globally with its unique DX solutions that combine advanced technologies such as IoT platforms and AI. Topcon is pursuing its long-term vision leading up to its 100th anniversary in 2032, and the Company has been implementing its "Mid-Term Management Plan 2025" covering the fiscal years 2023–2025. Under this plan, Topcon has pursued sustainable business growth and improved profitability by deepening its orientation towards customers, and as the next step, the Company aims to evolve into "New Topcon 2.0," a business structure that will further accelerate the competitiveness of the Topcon Group. KKR is making this investment predominantly from its Asian Fund IV. Topcon President and CEO, Takashi Eto, has agreed to tender his shares into the Tender Offer. Following the completion of the Tender Offer, Mr. Eto and funds managed by JIC Capital, Ltd. will invest in KKR-managed investment vehicles that will own Topcon. This series of transactions, including the Tender Offer, constitutes a management buyout. Additionally, funds managed by ValueAct Capital, a major shareholder of Topcon, have also agreed to tender shares in the Tender Offer and invest in KKR-managed investment vehicles that will own Topcon. For more details regarding the announcement, please refer to the full text of the release issued by the Offeror today titled, "Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation." Forward-looking Statements This press release should be read in conjunction with the release issued by the Offeror today titled "Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation." The purpose of this press release is to publicly announce the Tender Offer and it has not been prepared for the purpose of soliciting an offer to sell or purchase in the Tender Offer. When making an application to tender, please be sure to read the Tender Offer Explanatory Statement for the Tender Offer and make your own decision as a shareholder or share acquisition right holder. This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the Tender Offer, nor shall it be relied upon in concluding an agreement regarding the Tender Offer. The Tender Offer will be conducted in compliance with the procedures and information disclosure standards set forth in Japanese law, and those procedures and standards are not always the same as the procedures and information disclosure standards in the U.S. In particular, neither Sections 13(e) or 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) or the rules under these sections apply to the Tender Offer; and therefore the Tender Offer is not conducted in accordance with those procedures and standards. In addition, because the Offeror is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against it that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court. Unless otherwise specified, all procedures relating to the Tender Offer are to be conducted entirely in Japanese. All or a part of the documentation relating to the Tender Offer will be prepared in English; however, if there is any discrepancy between the English-language documents and the Japanese-language documents, the Japanese-language documents shall prevail. This press release includes statements that fall under "forward-looking statements" as defined in Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934. Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from the predictions indicated by the statements that are implicitly or explicitly forward-looking statements. Neither the Offeror nor any of its affiliates guarantee that the predictions indicated by the statements that are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information held by the Offeror as of today, and the Offeror and its affiliates shall not be obliged to amend or revise such statements to reflect future events or circumstances, except as required by laws and regulations. The Offeror, the financial advisors of the Offeror and the Company, and the tender offer agent (and their respective affiliates) may purchase the common shares and share acquisition rights, etc. of the Company, by means other than the Tender Offer, or conduct an act aimed at such purchases, for their own account or for their client's accounts, including in the scope of their ordinary business, to the extent permitted under financial instrument exchange-related laws and regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the Tender Offer period. Such purchases may be conducted at the market price through market transactions or at a price determined by negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the person conducting such purchases (or by any other method of public disclosure). If a shareholder exercises its right to demand the purchase of shares of less than one unit in accordance with the Companies Act, the Company may buy back its own shares during the Tender Offer period in accordance with the procedures required by laws and regulations. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at 1 7th Series Share Acquisition Rights issued pursuant to a resolution of the Company's Board of Directors held on June 25, 2021 (exercise period is from April 1, 2024 to March 31, 2029) View source version on Contacts Media Contacts Wei Jun Ong+65 6922 Samuel Brustad+81 90 7094
Yahoo
23 minutes ago
- Yahoo
US LNG producers soar as EU agrees to $250 billion in annual purchases
(Reuters) -Shares of U.S. liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade, Venture Global, and Cheniere Energy jumped between 7% and 8.8%, with the deal bolstering the prospects for American LNG exporters as they expand to meet growing demand for cleaner-burning fuels. The EU, seeking to phase out its dependence on Russian gas, committed to buying $250 billion annually in U.S. LNG as part of the framework trade agreement unveiled on Sunday. The U.S. became the world's biggest LNG supplier in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more exports, due in part to supply disruptions and sanctions linked to Russia's 2022 invasion of Ukraine. The agreement imposes a 15% U.S. import tariff on most EU goods, a softer blow than markets had feared. "Terms of the EU-U.S. trade deal were at the forefront, with the 15% tariff level better than feared (30% was mooted previously)," said Ashley Kelty, an analyst at Panmure Liberum. "This should see less of a drag on industrial activity between the two." Still, Kelty noted the deal could weigh on gas prices. "The demand for the EU to buy more U.S. energy will see more U.S. LNG imports in the future," Kelty said, signalling a potential supply glut. Shares of U.S. natural gas producers Expand Energy and EQT Corp were up 1.6% and 3%, respectively, before the bell. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
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Nova Minerals Advises Permitting for the West Susitna Access Road to the Estelle Project Site has been Submitted
Anchorage Alaska, July 28, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited ('Nova' or the 'Company') (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) is pleased to announced that the Alaska Industrial Development and Export Authority (AIDEA) has submitted its application to the U.S. Army Corps of Engineers for the permitting of the West Susitna Access Road. The permitting process for the all-weather public and industrial road will occur in 2025-2026 and further strengthens Nova's momentum as it advances the Estelle Project. The proposed 78.5-mile long road will begin approximately 1.4 miles west of Alexander Creek and extend to the Whiskey Bravo airstrip and mineral exploration camp (Figure 1). Following the Skwentna River's northern edge before crossing to its southern side, the route is designed to allow year-round public access to lands that are currently difficult to reach except by air or water. As a company deeply committed to advancing responsible exploration and unlocking Alaska's critical mineral potential, Nova Minerals sees this project as essential infrastructure for future development in the region. With this road in place, not only will essential logistics and access be significantly improved, but new opportunities are expected to also arise for Alaskan families, local businesses, and resource developers alike. Highlights The Alaska Industrial Development and Export Authority (AIDEA) has submitted its application to the U.S. Army Corps of Engineers for the permitting of the West Susitna Access Road, which will occur in 2025/2026. The West Susitna Access Road is a critical infrastructure project, consisting of a 78.5-mile all-weather road for both public and industrial use (Figure 1). It is intended to support the Estelle Project and the surrounding region and is expected to lower barriers to resource development, substantially reduce the cost of mining in the West Susitna region, and enhance local access and economic opportunities. The road will connect to a separate road project being led by the Alaska Department of Transportation & Public Facilities (ADOT&PF) that will extend 22-miles of new public and industry road surface west from the existing road system and will include a large bridge across the Susitna River. The ADOT&PF project is scheduled to begin construction in late 2025 and to be fully constructed by 2026/2027. Pursuant to Executive Order 14153, the Governor of Alaska has requested that the Assistant Secretary of the Army for Civil Works render 'all assistance' required to obtain the necessary approvals for the project. Pursuant to Executive Order 14241, the Governor has also requested that the project be deemed a 'priority project' and placed on an expediated permitting schedule, as well as emergency approval pursuant to section 2 of Executive Order 14156, as the project is important to Alaska, the Nation, and the future of the Nation's energy dominance and national security. Nova CEO, Mr Christopher Gerteisen commented: 'The West Susitna Access Road represents a critical step forward for the Mat-Su region, Alaska, and beyond. This transformative infrastructure project is expected to not only unlock significant economic opportunities by facilitating resource development, but also enhance local access and create jobs in the process. We are proud to support AIDEA and the state's ongoing efforts to build a stronger, more sustainable future through infrastructure development. The state's commitment to expanding access to Alaska's vast public lands aligns well with our shared vision for long-term economic growth and national security. We are excited to see the potential positive impact this project could have on both the local community and the state's broader economic landscape.' West Susitna Road Welcomed by Government Officials and Local Stakeholders Gov. Mike Dunleavy welcomed the advancement of the project, calling it a strategic move to boost economic development in the region: 'AIDEA's West Susitna Road holds significant value for Alaskans, especially local residents seeking better access to hunting, fishing, recreation, and potential opportunities in mining, processing, and manufacturing.' Funding for the road is expected to follow a public-private partnership model similar to AIDEA's Delong Mountain Transportation System, which supports the Red Dog Mine. That approach has previously yielded long-term economic gains through infrastructure that serves both public and private needs. Support for the project spans political and community lines. Matanuska-Susitna Borough Mayor Edna DeVries called the road 'a strategic investment in our region's future,' emphasizing its potential to provide long-overdue access for families and businesses. 'Reliable road access means a stronger local economy and more opportunities for recreation and responsible development,' DeVries said. State lawmakers have also backed the project as a critical step in unlocking Alaska's resource potential. 'The West Susitna Access is an exciting opportunity not only to potentially unlock some of Alaska's extraordinary resource potential, but to provide all Alaskans new access to the recreation and outdoor opportunities found in the West Su,' said Rep. Kevin McCabe. Sen. Mike Shower highlighted the national security and economic benefits of increased access to minerals like copper, gold, and antimony. 'Responsible resource development is critical for Alaska, the United States and our allies,' he said, noting the road's potential role in supporting jobs and technology supply chains. Public land access advocates have also weighed in. Rod Arno, public policy director for the Alaska Outdoor Council, said the group 'remains in strong support of the state creating more overland access to public lands/waters for all Alaskans.' He added that resource roads have historically become gateways to outdoor recreation and that the council will monitor the project's progress to ensure renewable resource protections remain strong. Local business owners echoed that enthusiasm. Cindi Hermans, president of Friends of West Susitna and owner of the Skwentna Roadhouse, called the permit application a long-awaited milestone: 'It has been a long time coming, and we are eager to see the positive impact it will have on our community and surrounding areas.' Nova Minerals stands firmly behind the West Susitna Access Project and looks forward to working alongside stakeholders to realize the shared benefits this infrastructure will bring to all Alaskans. The permit application marks a key regulatory step in the project's development and begins a review process that includes federal agency input and opportunities for public comment. The project reflects Alaska's constitutional mandate to develop state lands for maximum public benefit, balancing access, economic development, and conservation. To see the full press release from AIDEA on the permit application please click the link belowhttps:// Watch the AIDEA West Susitna Access video here: 1. Proposed route for the West Susitna Access Road. Source AIDEA. Qualified Persons Vannu Khounphakdee, Professional Geologist and member of Australian Institute of Geoscientists contracted by Nova Minerals to provide geologic consulting services. Mr. Khounphakdee holds a Master of Science in Mine Geology and Engineering. He is a qualified person with at least 5 years' experience with this type of project. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Khounphakdee fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for data QA/QC checks relevant to this announcement. Hans Hoffman is a State of Alaska Certified Professional Geologist contracted by Nova Minerals to provide geologic consulting services. Mr. Hoffman is a member of the American Institute of Professional Geologists and holds a Bachelor of Science degree in Geological Engineering with a double major in Geology and Geophysics. He is a qualified person with at least 5 years of experience with these types of projects. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Hoffman fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for the technical information presented in this announcement. Christopher Gerteisen, Chief Executive Officer of Nova Minerals, is a Professional Geologist and member of Australian Institute of Geoscientists, and has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Gerteisen is a "qualified person" for the purposes of SEC Regulation S-K 1300. About Nova Minerals Limited Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Nova Gold and Paulson Advisors Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer. Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company's website. Forward Looking Statements This press release contains 'forward-looking statements' that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' "will' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labor costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, the availability of funding sources, the availability of collaborative relationships, permitting and such other assumptions and factors as set out herein. Apparent inconsistencies in the figures shown in the MRE are due to rounding. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labor costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development. These and other risks and uncertainties are described more fully in the section titled 'Risk Factors' in the Nova Minerals Limited's Registration Statement on Form F-1 filed with the Securities and Exchange Commission on July 3, 2025. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law. For Additional Information Please Contact Craig BentleyDirector of Finance & Compliance & Investor RelationsE: craig@ +61 414 714 196Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
