Nippon Steel revises Sanyo Special Steel tender offer details

Nippon Steel Corporation (TSE:5401) has issued a correction to its previously announced tender offer for shares of Sanyo Special Steel Co., Ltd. (TSE:5481). The revision follows Sanyo Special Steel's announcement regarding the abolishment of its shareholder benefit program, leading Nippon Steel to amend its tender offer registration statement. Sanyo Special Steel has also resolved to revise its dividend forecast for the fiscal year ending March 2025, eliminating the year-end dividend, conditional on the completion of Nippon Steel's tender offer. The tender offer, initially announced on January 31, 2025, is being updated to reflect these changes. Nippon Steel is urging investors to review the updated tender offer documents before making any decisions.