Toho Holdings Makes Initial Acquisition Proposal to PHC, Takeover Bid Expected to Exceed 200 Billion Yen

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Summary · why it matters

PHC Holdings, which manufactures medical-related equipment, said on the 1st that it has received a non-binding initial acquisition proposal from Toho Holdings, a major pharmaceutical wholesaler. The announcement followed a report the previous day, and Toho Holdings also said it is "considering the matter mentioned in the article," though it said no decision has been made at this point. According to a Bloomberg report on September 30, Toho Holdings aims to acquire all shares through a tender offer, with the acquisition amount expected to exceed 200 billion yen. Domestic investment funds also showed interest in acquiring PHC, but Toho is currently the only buyer candidate in concrete acquisition talks. PHC's largest shareholder is the U.S. investment firm KKR, which holds about 38 percent. According to the report, PHC and KKR have each hired financial advisors and have been seeking a buyer for PHC in line with KKR's exit.

Impact on assets 2

Biotech & Genomic Medicine▲
PHC Holdings Corp.
6523
▲ PositiveCapitalrelevance

PHC received a non-binding acquisition proposal from Toho Holdings, with a takeover bid expected to exceed 200 billion yen, providing a potential exit for largest shareholder KKR.

Health Care▲
TOHO HOLDINGS CO., LTD.
8129
▲ PositiveCapitalrelevance

Toho Holdings made a non-binding acquisition proposal for PHC and is the only concrete buyer candidate, with a tender offer expected to exceed 200 billion yen.