Daito Trust Construction Completes Tender Offer for Ascot Corp. Shares
Daito Trust Construction has successfully completed its tender offer for Ascot Corp., acquiring 124.6 million common shares and 5.36 million share acquisition rights. The offer, conducted from Feb. 3 to March 18, met the minimum threshold of 91.7 million shares at a price of 260 yen per common share. Daito will now hold approximately 96.17% of Ascot's voting rights, making Ascot a consolidated subsidiary effective March 26. The acquisition aligns with Daito's strategic goals, with the impact on consolidated performance still under review.
Daito Trust Construction has completed its tender offer to acquire shares of Ascot Corp., according to its Wednesday bourse filing.
The tender offer, conducted from Feb. 3 to March 18, resulted in the purchase of 124.6 million common shares and 5.36 million share acquisition rights, meeting the minimum required threshold of 91.7 million shares.
The purchase price was set at 260 yen per common share and 105 yen per share acquisition right.
With the completion of the tender offer, Daito will own approximately 96.17% of Ascot's voting rights, and Ascot is set to become a consolidated subsidiary of Daito on March 26, the settlement commencement date.
Daito's acquisition of Ascot aligns with its strategic goals, though the specific impact on its consolidated business performance is still under review.
