Regarding the takeover bid (TOB) announced by Nidek after the close of trading on the 13th, the stock price of TAKISAWA, which was the target company, showed unusual popularity before the announcement.
Nidek and Takisawa Hostile Acquisition – Aiming to Become Wholly Owned Subsidiaries through TOB
Takisawa stock, which handles machine tools, has been on an upward trend since the beginning of July, rising nine times in a row until the 13th. In particular, on the 13th, it rose 9.7% from the previous day to 1,587 yen, the first increase in about six years since August 2017.
The TOB price presented by Nidek is 2,600 yen per share. In the trading on the 14th, buy orders were concentrated, and the price limit was 1,987 yen, which was 400 yen higher than the previous day, and the price limit was full.
Masayuki Otani, General Manager of Securities Japan Research and Information Department, said that due to the high ratio of automobiles, “It is possible that there was a lot of buying by chance, focusing on expectations for a recovery in automobile production and the low price-to-book value ratio (PBR). There is,” he said, “Considering that there was an official announcement after yesterday’s surge, the stock price was moving in an incomprehensible way. It wouldn’t be strange if an investigation was made to see if the information had been leaked. ‘, he says.
As of the 13th, Takisawa shares have risen 29% since the beginning of the month. Of the 142 stocks that make up the TOPIX Machinery Index, including the company, only about 20% are rising stocks.
Changes can also be seen in the trading volume, one of the indicators of the popularity of stocks. The trading volume on the 13th, which was the last trading before the announcement of the TOB, was 223,700 shares, 2.6 times higher than the maximum trading volume in the past year on October 28, 2022 (87,400 shares). . In June, there were days when the stock fell below 10,000 shares.
In an interview with Bloomberg News, a spokesperson for Nidek explained that they have signed an NDA (non-disclosure agreement) with everyone involved, including the home advisor, and that information will leak from the head office. said no.
A spokesperson for Takisawa said he could not comment beyond the information disclosed by the company yesterday. A spokeswoman for the Japan Exchange Group (JPX), which owns the Tokyo Stock Exchange, declined to comment on price movements of individual stocks.
2023-07-14 02:06:15
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