Taisho Pharmaceutical Holdings Co.’s management has made a tender offer to take the Japanese drugmaker private, with a proposal to buy the shares at a 55% premium to their latest closing price, the company said.
The tender period for the management buyout offer at ¥8,620 a share will be from Nov. 27 to Jan. 15, Taisho said in a statement Friday. The entity making the offer is a company owned by Executive Vice President Shigeru Uehara.
Uehara is a member of the family that jointly owns the biggest block of shares in Taisho. Founded in 1912, Shokichi Uehara made Taisho a leading provider of everything from energy drinks and stomach medicine, to sunscreen and pest control products. The buyout offer values Taisho at about ¥731.8 billion ($4.9 billion).
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