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Murata Manufacturing Co Ltd and TOKO INC to Enhance Business and Capital Alliance


Wednesday, 13 Feb 2013 01:10am EST 

Murata Manufacturing Co Ltd (Murata) announced that Murata Manufacturing Co Ltd and TOKO INC (Toko)have executed an agreement for enhancement of capital and business alliance. Murata will aim to acquire the majority of the voting rights of Toko by means of a tender offer. Through the business alliance, TOKO INC will utilize Murata's sales network and expand the sale of Toko's products to a global scale, among others; and Murata will arm with Toko's metal alloy products, develop customers that are new to the Companies and aim to increase sales, among others. Through the capital alliance, Murata will launch a tender offer of 57,993,508 shares of Toko's common stock (a 50.72% stake), at the price of JPY 300 per share. After this, Murata will hold 76,151,265 shares of Toko (a 66.60% stake). The effective date and total amount of the transaction are not disclosed. It is acknowledged that after the consummation of the tender offer, Toko will continue to be a listed company.