U.S. investment fund KKR announced on the 9th that it will delay the start of its tender offer for shares of chemicals maker Taiyo Holdings from the initially planned early October. The delay is due to procedures under law not yet being completed in some countries, and KKR aims to begin the offer around late November. In March, KKR announced plans to acquire all shares of Taiyo Holdings at 4,750 yen per share through a tender offer as part of taking the company private. While KKR is proceeding with procedures under competition laws and investment regulations in various countries, which were conditions for launching the tender offer, procedures under China's competition law and Japan's investment regulations remain outstanding at this point.
Taiyo Holdings Co., Ltd.The KKR take-private tender offer at 4,750 yen per share is pushed back to around late November due to outstanding regulatory approvals.
KKR & Co. Inc.KKR's tender offer for Taiyo Holdings is delayed because competition-law and investment-regulation procedures in China and Japan are not yet completed.
