Stock Market

KKR’s tender offer for Hitachi Transport to be delayed -statement By Reuters


© Reuters. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Aug. 23, 2018. REUTERS/Brendan McDermid

TOKYO (Reuters) – Japan’s Hitachi (OTC:) Transport System Ltd said on Thursday it had been informed by KKR & Co (NYSE:) that the private equity firm’s tender offer for it would be delayed from the initially planned end-September start.

In a statement, Hitachi Ltd ‘s logistics arm cited KKR as saying it would now aim for a mid-November start pending regulatory approval and other processes.

KKR announced the estimated 670 billion yen ($4.63 billion) deal in April, offering 8,913 yen per share.

($1 = 144.7600 yen)



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