(MENAFN) US Elliott Management Corp announced it had taken over a stake of 5% in Hitachi Kokusai Electric, a chip making equipment and video solution business.
Earlier in April, US KKR & Co LP agreed to acquire Hitachi Kokusai from Hitachi Ltd in a deal valued at USD2.3bln but put the deal on hold after a third-party committee reporting Hitachi Hohusai's board said it no longer supported the transaction.
Elliott said in a statement: "We are encouraged by the company"s recent business success and the board"s efforts to safeguard shareholders" interests through the establishment of the third-party committee."
MENAFN1109201700450000ID1095842533
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.