Nikko Principal Investments to make takeover bid for Bellsystem24.TOKYO, Sept. 27 Kyodo
Investment firm Nikko Principal Investments Japan Ltd. said Monday it will make a takeover bid for the outstanding common stock of Tokyo-based Bellsystem24 Inc. beginning Tuesday to make the call-center operator a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. .
Nikko Principal currently has a 71.73 percent equity stake in Bellsystem24 after it purchased all the shares owned by information services provider CSK CSK
see chronic superficial keratitis. Corp. and new shares issued by Bellsystem24, both earlier this year, said the investment arm of Nikko Cordial Corp.
The new offer will be made at a cash price of 28,000 yen per share for a period of about one month through Oct. 27, Nikko Principal said.
If the company cannot acquire all of Bellsystem24 shares through the takeover bid, it plans to make the firm a wholly owned subsidiary through an equity swap, it said.
Bellsystem24, capitalized at 62.18 billion yen, is listed on the First Section of the 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. .
On Monday, the TSE placed shares of Bellsystem24 on the monitoring post as its stock would be delisted from the exchange after the company becomes Nikko Principal's wholly owned subsidiary.