Print technology giant Brother Industries plans to expand with the takeover of Mutoh Holdings, manufacturer of wide-format printers and plotters.
With a tender offer worth £165 million (¥35 billion), Brother has launched a bid to buy all outstanding Mutoh shares, excluding treasury shares.
Intending to make Mutoh a wholly-owned subsidiary, the Japanese group is looking to expand further into the industrial print market after the failure of its hostile takeover of Roland DG two years ago.
The tender offer period has been set at 30 business working days, giving shareholders until 23 March to decide whether to tender their shares. It also gives other investors an opportunity to buy Mutoh stock.
The board directors of Mutoh, which also has its global headquarters in Japan, have given their support to the offer and have recommended that shareholders back the deal.
