Latest news with #TechnoPro
Reuters
4 days ago
- Business
- Reuters
Blackstone offers $3.5 bln for Japan's TechnoPro as deal competition heats up
TOKYO, Aug 6 (Reuters) - Blackstone (BX.N), opens new tab said on Wednesday it would launch a $3.5 billion offer to take TechnoPro Holdings (6028.T), opens new tab private, the latest in a series of deals that have helped push M&A dealmaking to record levels in Japan this year. The world's largest alternative asset manager is offering 507.4 billion yen, or 4,870 yen per share, for TechnoPro, a 17.4% premium to its closing average for the past three months. Global private equity firms are competing to close deals to take Japanese companies private, following management reforms to tackle low valuations. Blackstone was up against rival private equity powerhouse Bain Capital in the final round of bidding for engineering staffing firm TechnoPro, three people with knowledge of the matter said. Last week Swedish investment firm EQT announced a $2.7 billion tender offer for lift-maker Fujitec, while in February KKR took software developer Fuji Soft private after a protracted bidding war with Bain. Blackstone is looking to expand aggressively in Japan, one of the people said. The sources declined to be named as they were not authorised to speak to the media. The TechnoPro acquisition marks Blackstone's seventh in Japan and its third private equity deal in 2025, it said in a press statement. Real estate has also been a major focus for investors. In December 2024, Blackstone acquired a central Tokyo office and hotel complex for 400 billion yen in a deal it said was the biggest property investment by a foreign investor in Japan. Bain and KKR, meanwhile, are part of three rival groups preparing to bid for brewer Sapporo Holdings' real estate business at a sale price also expected around 400 billion yen, according to two sources familiar with the matter, Reuters reported last week. Shares in TechnoPro closed down 2% at 4,876 yen. The Nikkei business daily reported the plan late on Tuesday, saying Blackstone would offer a price below 4,900 yen. The tender offer is expected to commence on August 7. ($1 = 147.4600 yen) ($1 = 147.7600 yen)
CNA
4 days ago
- Business
- CNA
Blackstone offers $3.5 billion for Japan's TechnoPro as deal competition heats up
TOKYO :Blackstone said on Wednesday it would launch a $3.5 billion offer to take TechnoPro Holdings private, the latest in a series of deals that have helped push M&A dealmaking to record levels in Japan this year. The world's largest alternative asset manager is offering 507.4 billion yen, or 4,870 yen per share, for TechnoPro, a 17.4 per cent premium to its closing average for the past three months. Global private equity firms are competing to close deals to take Japanese companies private, following management reforms to tackle low valuations. Blackstone was up against rival private equity powerhouse Bain Capital in the final round of bidding for engineering staffing firm TechnoPro, three people with knowledge of the matter said. Last week Swedish investment firm EQT announced a $2.7 billion tender offer for lift-maker Fujitec, while in February KKR took software developer Fuji Soft private after a protracted bidding war with Bain. Blackstone is looking to expand aggressively in Japan, one of the people said. The sources declined to be named as they were not authorised to speak to the media. The TechnoPro acquisition marks Blackstone's seventh in Japan and its third private equity deal in 2025, it said in a press statement. Shares in TechnoPro closed down 2 per cent at 4,876 yen. The Nikkei business daily reported the plan late on Tuesday, saying Blackstone would offer a price below 4,900 yen. The tender offer is expected to commence on August 7. ($1 = 147.4600 yen)
Zawya
4 days ago
- Business
- Zawya
Blackstone to acquire Japan's TechnoPro for about $3.4bln, Nikkei reports
TOKYO - Blackstone plans to acquire major Japanese engineering staffing firm TechnoPro Holdings for about 500 billion yen ($3.39 billion), the Nikkei business daily reported on Tuesday. Blackstone will likely offer just below 4,900 yen for each TechnoPro share in the tender offer it plans to launch soon, according to the report. Responding to the Nikkei report, TechnoPro said in a statement that the company is looking into the privatisation by Blackstone as one of the strategic options for enhancing shareholder value, but that nothing has been decided. A Blackstone spokesperson could not immediately be reached for comment. TechnoPro shares closed up 0.4% at 4,977 yen before the report. They had mostly traded in a range between 3,000 yen and 4,400 yen since the start of the year before gaining ground sharply following a Mergermarket report last month that the company was considering privatisation. ($1 = 147.4400 yen)
5 days ago
- Business
TechnoPro to Go Private
News from Japan Economy Aug 6, 2025 09:06 (JST) Tokyo, Aug. 6 (Jiji Press)--TechnoPro Holdings Inc., a Japanese engineer staffing company, said Tuesday that it is considering going private. Blackstone Inc., a U.S. investment firm, is expected to launch a 500-billion-yen tender offer for TechnoPro, people familiar with the matter said. TechnoPro has over 28,000 engineers and researchers for dispatches to major manufacturing firms. It posted 219.2 billion yen in consolidated revenue in the year ended in June last year. END [Copyright The Jiji Press, Ltd.] Jiji Press
Yahoo
5 days ago
- Business
- Yahoo
Blackstone to acquire Japan's TechnoPro for about $3.4 billion, Nikkei reports
TOKYO (Reuters) -Blackstone plans to acquire major Japanese engineer staffing firm TechnoPro Holdings for about 500 billion yen ($3.39 billion), the Nikkei business daily reported on Tuesday. Blackstone will likely offer just below 4,900 yen for each TechnoPro share in the tender offer it plans to launch soon, according to the report. ($1 = 147.4400 yen)
