Yesterday, MinebeaMitsumi raised its buyout offer for Shibaura Electronics in the bidding war to see off Taiwan’s Yageo.
MinebeaMitsumi increased its offer to $38 per share
from $31, overtaking Yageo’s latest bid of $37.
MinebeaMitsumi Chairman and CEO Yoshihisa Kainuma said the revised offer was in the “national interest”.
He added: “Is it really ok if anyone could buy a Japanese company as if they were apartments, just by paying enough money? Personally, I don’t think so.”
Shibaura Electronics has a world leading thermistor market share.
Advantage Partners, a Tokyo-based investment fund is offering to provide some of the buyout capital.
“We know exactly when this turns into a game of hot potato,” said Kainuma, suggesting that he has a price in mind for Shibaura which he will not exceed
