Tenma Corp to go private via management buyout

Plastics manufacturer Tenma Corporation (TSE:7958) is set to go private following a management buyout led by FHL Holdings. FHL Holdings, an investment firm backed by Tenma's management, including Representative Director Hirohisa Hirono, will launch a tender offer to acquire all outstanding shares of Tenma, excluding those already held by FHL, treasury shares, and shares subject to non-tender agreements. The offer price is JPY 3,580 per share, valuing the deal at approximately $464 million (JPY 7,490.76 million).