FHL Holdings to take Tenma Corp private in tender offer

FHL Holdings Inc. (FHL), a major shareholder and asset management company for Tenma Corporation's founding family, is set to commence a tender offer to acquire all of Tenma Corporation's (TSE:7958) shares, excluding those already held by FHL, treasury shares, and shares subject to non-tender agreements. The offer, valued at 3,580 yen per share, will run from March 17, 2025, to April 28, 2025. FHL seeks to acquire a minimum of 6,764,800 shares with an aspiration to purchase up to 13,492,330 shares, effectively privatizing Tenma. Agreements are already in place with major shareholders, including Dalton Investments, to tender their shares. The Tender Offer agent is SMBC Nikko Securities Inc. Shareholders must make their investment decisions based on the tender offer explanatory statement.