TOKYO (Reuters) – Japanese machine tool manufacturer Makino Milling Machine said on Wednesday that it asked Nidec to make changes to an unsolicited takeover bid announced last month.
Makino said in a statement it asked Nidec to push back the tender offer launch date to May 9 from April 4, and to revise the minimum takeover threshold to two-thirds from one-half.
Nidec, the world’s top manufacturer of precision motors, had said on Dec. 27 it plans to clear regulatory processes by early April and launch the tender offer on April 4.
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