Home appliance manufacturer and seller Twinbird announced on the 13th that its board of directors and a special committee are carefully considering the tender offer for its shares being explored by Japanet Holdings, and that it plans to promptly announce its views once the necessary review is complete. Japanet had disclosed on June 19 that it intended to launch a tender offer at 800 yen per share aiming for full subsidiary status, conditional on Twinbird's agreement. Also on the 13th, Japanet announced that it had signed a confidentiality confirmation letter with Twinbird dated the 9th to advance specific discussions. Twinbird stated that it does not anticipate the process taking until late October, when Japanet had planned to commence the offer.
Twinbird CorporationTwinbird is the target of a tender offer at 800 yen per share; board is considering it, outcome uncertain.
Japanet is the bidder seeking full subsidiary status; deal depends on Twinbird's agreement.