Taiwan's Yageo Corporation has extended the deadline for its tender offer bid (TOB) for Japan's Shibaura Electronics to August 28 amid a competitive price increase from rival MinebeaMitsumi. Both companies are vying for control of the negative temperature coefficient (NTC) thermistor manufacturer.
On August 18, Yageo announced that MinebeaMitsumi had raised its acquisition offer to match Yageo's previous terms, prompting Yageo to extend the TOB deadline for the seventh time under local Japanese regulations. The Taiwanese passive components maker also indicated it would consider revising its tender offer terms in response to these competitive moves.
Originally, Yageo had offered JPY6,200 (approx US$42.06) per share for Shibaura Electronics, with MinebeaMitsumi proposing JPY5,500 per share. With MinebeaMitsumi now aligning its bid with Yageo's price, the contest for acquiring the Japanese firm has become highly competitive.
Industry analysts note that Yageo chairman Pierre Chen has a reputation for a "must-win" stance in mergers and acquisitions, suggesting Yageo may increase its offer once again to maintain its advantage in the bidding war.
Coinciding with these developments, a factory visit exchange between the two companies is underway. Representatives from Shibaura Electronics are scheduled to tour Yageo's multilayer ceramic capacitor (MLCC) and resistor production facilities in Kaohsiung on August 19. Yageo is using the visit to highlight its advanced technology and automation capabilities.
In return, Yageo plans to visit Shibaura Electronics' manufacturing site in Thailand on September 4 to assess its operational model. Both sides expect the exchanges to foster comprehensive discussions on operations and strategic alignment, aiming to build a long-term partnership grounded in communication and professionalism.
Article edited by Jack Wu
