Japan’s Hitachi Transport System Ltd said on Thursday it had been informed by KKR & Co that the private equity firm’s tender offer for it would be delayed from the initially planned end-September start.
In a statement, Hitachi Ltd’s logistics arm cited KKR as saying it would now aim for a mid-November start pending regulatory approval and other processes.
KKR announced the estimated 670 billion yen ($4.63 billion) deal in April, offering 8,913 yen per share.
Reuters