Hitachi Announces Outcome of Tender Offer.TOKYO -- Hitachi, Ltd. (NYSE NYSE See: New York Stock Exchange :HIT)(TOKYO:6501) today announced the outcome of the tender offer for shares of Clarion A family of application development systems for Windows from SoftVelocity, Inc., Pompano Beach, FL (www.softvelocity.com). Clarion provides a comprehensive set of tools for development, including a screen builder, 4GL and application generator. Co., Ltd. (TOKYO:6796) (Clarion), which concluded on November 30, 2006, and was previously announced on October 11, 2006 and October 24, 2006 and initiated on October 25, 2006. 1. Overview of Tender Offer (Announced October 11, 2006 and October 24, 2006)
(1) Name of subject company
Clarion Co., Ltd.
(2) Class of stock purchased
Common stock
(3) Tender Offer period
From October 25, 2006 (Wed.) through November 30, 2006 (Thu.)
(37 days).
(4) Purchase price
230 yen per share
2. Outcome of Tender Offer [TABLE OMITTED] 3. Method and Commencement Date of Settlement [TABLE OMITTED] 4. Locations Where Tender Offer Report is Available Hitachi, Ltd. (6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo) Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. , Inc. (2-1 Nihombashi Kabutocho, Chuo-ku, Tokyo) Osaka Securities Exchange Osaka Securities Exchange (OSE) Established after World War II, one of the three major securities markets in Japan. Co., Ltd. (8-16, Kitahama 1-chome, Chuo-ku, Osaka) 5. Outlook Clarion will become a consolidated subsidiary of Hitachi due to the Tender Offer. Hitachi will, if necessary, make an announcement regarding the impact of the Tender Offer on its operating results as soon as the information becomes available. Following Clarion becoming a consolidated subsidiary of Hitachi, Xanavi Informatics Corporation (company) Informatics Corporation - Renamed to Sterling Software Corp. , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Hitachi, will be made a wholly owned subsidiary of Clarion. The method will be determined after the discussion between Hitachi and Clarion. About Hitachi, Ltd. Hitachi, Ltd., (NYSE:HIT)(TOKYO:6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 356,000 employees worldwide. Fiscal 2005 (ended March 31, 2006) consolidated sales totaled 9,464 billion yen ($80.9 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . For more information on Hitachi, please visit the company's website at http://www.hitachi.com. |
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