Nidec responds to opposition, proceeds with Makino Milling tender offer

Nidec Corporation [TSE:6594] announced it will proceed with its tender offer to acquire Makino Milling Machine Co. despite opposition from Makino's board of directors. Makino's board had previously expressed its opposition and introduced countermeasures, citing concerns over insufficient time for shareholders to assess a third-party proposal and the company's fiscal results, alongside potentially coercive terms. The company further stated the countermeasures will also see shareholders' intention regarding the implementation of the Countermeasures.