Latest news with #Makino
04-06-2025
- Business
MBK Partners to Launch Tender Offer for Makino Milling Machine
News from Japan Jun 4, 2025 10:03 (JST) Tokyo, June 4 (Jiji Press)--MBK Partners, an Asian investment fund, said Tuesday that it will launch a tender offer for Makino Milling Machine Co. at 11,751 yen per share by early December to take full control of the Japanese machine tool maker. Makino agreed with the bid from MBK Partners and recommended that all shareholders tender their shares in the offer. In December 2024, Japanese motor manufacturer Nidec Corp. made an unsolicited bid for Makino at 11,000 yen per share. Nidec withdrew its tender offer in early May after Makino announced a takeover defense measure. MBK Partners late last month made a binding takeover proposal to Makino, which had been looking for a white knight suitor. END [Copyright The Jiji Press, Ltd.] Jiji Press
Forbes
02-06-2025
- Business
- Forbes
Japanese Billionaire's Acquisitive Streak Hits Roadblock
Shigenobu Nagamori. This story is part of Forbes' coverage of Japan's Richest 2025. See the full list here. After decades of successful bolt-on acquisitions, Shigenobu Nagamori, founder and chairman of precision-motor giant Nidec, hit a roadblock in his hostile bid for machine-tool maker Makino Milling Machine. ss The ¥257 billion ($1.8 billion) tender offer—unusual in Japan, where such deals are negotiated privately—was set to open in April, but in March, Makino, which had ¥234 billion in revenue in the year through March, said it would mount a 'poison pill' takeover defense if Nidec didn't give it more time to consider potential competing proposals. Nidec asked the Tokyo District Court to halt Makino's plan, but the petition was dismissed and the company withdrew its bid. For Nidec, which posted ¥2.6 trillion in revenue in the year through March, the offer was part of its strategy to turn machine tools, which account for less than 10% of its sales, into a ¥1 trillion business over the next decade. Nagamori's wealth dropped to $2.8 billion on a 27% slide in Nidec shares over the past year.
Bloomberg
09-05-2025
- Business
- Bloomberg
Makino Milling Shares Tumble as Nidec Withdraws Takeover Bid
Shares of Makino Milling Machine Co. tumbled as much as 21% on Friday, the most on record, after Nidec Corp. withdrew its unsolicited takeover bid for the Japanese machine tool maker. Nidec abandoned its ¥257 billion ($1.76 billion) acquisition plan after a Tokyo court rejected its petition to halt Makino's takeover defense measures. Makino's management has resisted Nidec's bid since the world's top maker of mini motors announced a surprise takeover plan in December.
Yahoo
20-04-2025
- Automotive
- Yahoo
Super Formula Motegi: Dandelion wins again as Ohta takes Sunday glory
Motorsport photo Dandelion Racing extended its winning streak in Super Formula as Kakunoshin Ohta led another one-two finish for the Honda-powered team at Motegi on Sunday. Ohta was the major beneficiary of a first-lap safety car period that prompted the majority of the field to pit immediately and clear their mandatory stops, having started second on the grid behind poleman Kenta Yamashita. Advertisement Kondo Racing's Yamashita, who took pole by a huge margin of over half a second, led a train of 13 cars into the pits, but a slower stop allowed Ohta to get the jump. Shortly afterwards Yamashita slowed with a loose right-rear tyre, trundling back to the pits with his hopes of a first victory since 2019 ruined. At the head of the field, Ohta's Dandelion team-mate Tadasuke Makino led a group of seven drivers who stayed out, which also included Ayumu Iwasa's Team Mugen car. With no choice but to try and go as long as possible on his first set of tyres, Makino made it as far as lap 23 of 37 before coming in for fresh rubber, with Iwasa going five laps longer. Advertisement That put Ohta back into a comfortable lead, while Makino slipped behind first-lap stoppers Sacha Fenestraz, Sena Sakaguchi and Kazuya Oshima before quickly picking off all three drivers once his new tyres were up to temperature. Kenta Yamashita, KONDO RACING Kenta Yamashita, KONDO RACING Masahide Kamio Masahide Kamio After clearing Fenestraz for a net second on lap 27, Makino faced a deficit of 12 seconds to Ohta, but the latter was able to manage his pace on older rubber to perfection. In the end, 4.6 seconds separated the pair, as Dandelion celebrated its second consecutive one-two finish but with its drivers in the opposite order to Saturday's opener. Advertisement Iwasa meanwhile was able to make use of his strong race pace to grab third, overcutting Fenestraz to put the frustration of his DNF on Saturday behind him. TOM'S driver Fenestraz hung on for fourth place, leading home Sakaguchi's Inging machine, Oshima's Rookie Racing car and Toshiki Oyu in the second Inging car. KCMG driver Seita Nonaka, deputising for Kamui Kobayashi, was an impressive eighth place after passing Saturday podium finisher Igor Fraga, who could only manage ninth for Nakajima Racing. Tomoki Nojiri (Mugen) fended off Zak O'Sullivan (Kondo) for the final point in 10th as his difficult start to the season continued, while Yamashita finished 13th. Advertisement Sho Tsuboi (TOM'S) was among the minority of drivers not to pit on the first lap, and was running third until clutch trouble forced him to slow, ultimately leaving the reigning champion multiple laps down at the finish. Ohta's win puts him back in the lead of the drivers' standings on 61 points, one point clear of Makino, while Iwasa moves back up to third on 41 points with eight races remaining. To read more articles visit our website.
Yahoo
18-04-2025
- Business
- Yahoo
Carlyle in white knight talks with Makino, say sources, as Nidec takeover battle heats up
By Anton Bridge, Makiko Yamazaki, Ritsuko Shimizu and Miho Uranaka TOKYO (Reuters) - Private equity giant Carlyle is in talks with Japan's Makino Milling Machine as a potential white knight buyer to counter a $1.81 billion hostile takeover bid from Nidec, four people familiar with the matter said. The sources declined to be named as the information is not public. The battle to take the machine tool manufacturer private is heating up, with Nidec launching its tender offer for 11,000 yen ($77.30) per share on April 4 and Makino's board approving a "poison pill" takeover defence last week. The offer values Makino at 257 billion yen. Makino had received interest from Carlyle, MBK Partners and Nippon Sangyo Suishin Kiko Group (NSSK) but the latter has dropped out, according to three sources, including two of the four people familiar with the matter. Carlyle has turned more cautious in the aftermath of U.S. tariff announcements, one of the sources said. It is not yet clear whether Carlyle will put in a formal offer, three of the people said. Carlyle and Makino declined to comment. NSSK and MBK did not respond to Reuters' requests for comment. The tussle illustrates the intensifying dealmaking environment in Japan. It is rare to make an solicited bid without making prior contact, as Nidec has done. Nidec on Wednesday filed for an injunction to block the "poison pill", which issues free stock warrants to existing shareholders to dilute Nidec's stake and hinder a takeover. Makino has asked shareholders not to tender to Nidec, arguing that as talks with white knight suitors are ongoing, launching the bid at this stage does not leave enough time for shareholders to make a decision. The deal comes as Japanese authorities are actively promoting M&A deals. Japan's economy ministry published guidelines in 2023 that cracked down on takeover defence tactics and state credible offers must be given proper consideration. The guidelines add that poison pills are appropriate if the buyout would harm corporate value and shareholders' common interests. "Makino's reaction is the classic reaction of a Japanese company targeted by a buyer," said Takamitsu Araki, chief M&A officer at Nidec. "Our ultimate goal is to expand the enterprise value and increase employment. We're totally strategic," Araki added. The share issue still requires shareholder proposal at Makino's annual general meeting, scheduled for June. ($1 = 142.3000 yen) Sign in to access your portfolio
