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FURUKAWA CO LTD Agrees on Zeon Corp's Takeover Bid for Shares of Tohpe Corp; Expects Extraordinary Profit for FY 2013

Wednesday, 6 Feb 2013 01:15am EST 

FURUKAWA CO LTD announced that it has agreed to Zeon Corp's Takeover bid for shares of Tohpe Corp, which was disclosed earlier today. The Company will subscribe all its stake in Tohpe Corp (16,479,764 shares, or a 53.16% stake), for JPY 2,059,970,500 in total. The takeover bid period is from February 7, 2013 to March 21, 2013. The settlement date is March 27, 2013. After this, FURUKAWA CO LTD will hold no stake in Tohpe Corp. The Company is expecting an extraordinary profit of approximately JPY 800 million, as gain on the selling of subsidiary's shares, for the fiscal year ending March 2013. 

Company Quote

-4.0 -1.90%
24 Dec 2014