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4/28, 10:50 AM (Source: TeleTrader)
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KKR to acquire Hitachi Transport System in $5.2B deal

KKR & Co. Inc announced on Thursday a tender offer seeking to take private Hitachi Transport System Ltd. in a deal estimated to be worth some ¥670 billion (US$5.2 billion).

The global investment firm bids ¥8,913 per Hitachi Transport share in the market, a premium of 166% over Hitachi Transport's 12-month average closing price as of yesterday. "KKR expects to commence the tender offer by late September 2022, subject to regulatory approvals in Japan and other jurisdictions," reads the company's statement.

"We look forward to utilizing KKR’s global network and expertise to accelerate Hitachi Transport System's next phase of growth and help the Company achieve its goal of becoming the leading 3PL company in Asia through technology enablement and inorganic growth in a collaborative manner," said Hiro Hirano, Co-Head of Asia Pacific Private Equity at KKR and CEO of KKR Japan.

Baha Breaking News (BBN) / JG