Tokyo Cosmos Electric supports Bourns' tender offer

Tokyo Cosmos Electric announced its board has approved a resolution to support Bourns Japan Holdings LLC’s planned tender offer, recommending shareholders tender their shares. Bourns aims to acquire all of Tokyo Cosmos' shares, excluding treasury stock, to make it a wholly-owned subsidiary. Bourns set the minimum number of shares to be purchased at 894,500, representing 66.18% ownership. If successful, Bourns intends to proceed with procedures to delist Tokyo Cosmos Electric from the Tokyo Stock Exchange.