Nidec clears Austrian hurdle in Makino Milling takeover

Nidec Corporation (TSE: 6594) announced today that it has received clearance from Austrian competition authorities regarding its tender offer for Makino Milling Machine Co., Ltd. (TSE: 6135). This approval, under Austrian Cartel Law, satisfies a key condition for the completion of the deal, initially announced on December 27, 2024. Nidec intends to make Makino Milling Machine a wholly owned subsidiary. The company expects to complete pending competition law and foreign investment regulation procedures in other regions in the coming weeks. Remaining approvals are anticipated in China, Turkey, United States, Germany, France, Italy, Slovakia, Spain, and Czech Republic, with most expected by early April 2025. Nidec previously believed EU approval was necessary, but this was later deemed unnecessary.