Nippon Steel amends tender offer for Sanyo Special Steel

Nippon Steel Corporation (TSE:5401) announced an amendment to its ongoing tender offer for shares of Sanyo Special Steel Co., Ltd. The adjustment follows the receipt of notification from the Inspectorate of Strategic Products regarding clearance under the Swedish Foreign Direct Investments Act. In addition, the confirmation of shareholdings by related parties has been completed. This triggered the filing of an amended tender offer notification with the Kanto Local Finance Bureau. Nippon Steel, which already owns 52.98% of Sanyo Special Steel, aims to acquire all remaining shares to make it a wholly-owned subsidiary. The initial announcement regarding the tender offer was made on January 31, 2025. The company is also correcting minor data errors in its filing, and it is emphasizing that the changes do not alter any purchase conditions of the tender offer.