Japanese construction giant Taisei Corporation has announced a US$878m (¥130bn) acquisition of Toyo Construction for the equivalent of ¥1,750 per share.
If accepted, Toyo Construction will become a fully owned subsidiary of Taisei Corporation.
Nikkei Asia notes that this would be the largest acquisition in Japanese construction history and that its combined revenue would almost match that of Obayashi, the country’s second largest construction company.
Yamauchi No. 10 Family Office, a subsidiary of the Nintendo founders, has an approximate 30% stake in Toyo, while Infroneer Holdings holds an estimated 20% share.
The offer period runs until September 24.
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