Yageo extends tender offer for Shibaura Electronics, outlines new agreements

Yageo Corporation, through Yageo Electronics Japan G.K., has extended its tender offer for Shibaura Electronics. The tender offer period, initially from May 9, 2025, to September 18, 2025, has been prolonged to October 3, 2025. This extension follows Shibaura Electronics' September 16, 2025, announcement regarding the tender offer and the subsequent opinion amendment report on September 17, 2025.

Additionally, Yageo and Shibaura Electronics signed a new agreement on September 16, 2025. This agreement outlines commitments to respect Shibaura Electronics Group's corporate objectives, management policies, independence, and existing business strategies. It also confirms that Shibaura Electronics' current internal board composition will be maintained post-tender offer settlement, though Yageo will be able to appoint a majority of directors for Shibaura Electronics and its subsidiaries.

The new agreement also includes provisions for prior consultation on key matters such as changes to corporate objectives, business strategies, appointment of officers, and employee treatment. Yageo commits to maintaining existing employment conditions and business relationships post-acquisition, and will not change Shibaura Electronics’ trade name or corporate logo without prior consultation.