Global investment firm KKR announced a $3.33 billion tender offer to acquire all shares of Japanese chemical manufacturer Taiyo Holdings for 528.56 billion yen.
KKR offered 4,750 yen per share, representing a 4.7% discount to Taiyo's previous closing price.
The deal secured crucial backing from major shareholders DIC Corp, Kowa Co, and Oasis Management, collectively controlling 42.2% of outstanding shares.
DIC and Kowa have agreed to sell their holdings through share consolidation following deal completion. Oasis Management will tender nearly 15.62% of Taiyo's shares.
Taiyo's founding family plans to reinvest in KKR's ownership vehicle managing the company.