Markets KKR

KKR To Acquire Taiyo Holdings

(RTTNews) - KKR & Co. Inc. (KKR), a global investment firm, announced on Tuesday that it has agreed to acquire Taiyo Holdings, a global supplier of solder resist and other electronic materials, through a tender offer that values the Japanese company at JPY 4,750 per share.

Taiyo Holdings' board has endorsed the offer, and major shareholders including DIC Corporation, Kowa Co., Ltd. and Oasis Management Company Ltd. have agreed to participate, giving the transaction support from about 42.2 percent of outstanding shares.

The privatization will allow Taiyo Holdings to pursue long-term growth tied to artificial intelligence, data centers and communications infrastructure, while accelerating reforms in its pharmaceutical operations.

KKR stated that it plans to utilize its global industrial and healthcare expertise to support Taiyo Holdings' next phase of expansion and long-term value creation.

KKR is currently trading at $91.00, up $0.64 or 0.71 percent on the New York Stock Exchange.

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