Shinko Electric board re-recommends tender offer from JICC-04

Shinko Electric Industries [TSE: 6967] has affirmed its support for the tender offer by JICC-04 Co., Ltd. ("JICC"), setting the stage for the next steps in the acquisition that aims to take Shinko private. The latest announcement re-recommends shareholders tender their shares, confirming the board's position following JICC's notification that it will proceed with the tender offer slated to begin February 18, 2025. The tender offer is for all outstanding shares, and JICC has affirmed their commitment to ensuring a fair process, price and structure for all shareholders.