Senko group launches tender offer for Maruwn takeover

Senko Group Holdings Co. resolved to launch a tender offer for the common shares of Maruwn Corporation to take the company private. The tender offer price is set at 949 yen per share. The offeror aims to acquire 17,613,808 shares, with a minimum purchase of 3,200,400 shares, bringing the total estimated purchase price to 16,715,503,792 yen.

The transaction, expected to commence around late January 2026, aims for Senko Group to achieve an 80.00% voting rights ownership ratio in Maruwn Corporation. JX Metals Corporation, Maruwn's largest shareholder with 38.23% ownership, will hold 20.00% and will not tender its shares.

Maruwn Corporation’s shares are listed on the TSE Standard Market. If the tender offer does not secure all target shares, Senko Group plans to implement squeeze-out procedures, potentially leading to the delisting of Maruwn Corporation shares. The tender offer period is expected to be 20 business days.