Brother Bids to Acquire Roland DG Corporation
03 April 2024: Following Roland DG’s recent announcement to delist from the Tokyo Stock Exchange and become a private company, Brother has put forward a bid to buy the company. Brother Industries has announced a decision to acquire common shares of Roland DG Corporation through a tender offer. The company intends to make the tender offer in mid-May 2024, pending the fulfilment of all Conditions Precedent as per Financial Instruments and Exchange Law.
Brother is seeking to commence Tender Offer in mid-May 2024 with an offer to buy all of common shares in Roland at ¥5,200 (£27) per share, ¥165 (£0.86) more than a tender offer by XYZ KK (Taiyo Pacific Partners), an offer Roland’s board of directors were in favour of. Brother says this decision reflects confidence in potential synergies and value creation that can result from the acquisition of Roland DG. This strategic move underscores Brother’s vision for growth and expansion in the market, signalling a significant development in the industry landscape.
The Tender Offer Period is planned to be set at 30 business days, longer than minimum period required by law. This extended period aims to give ample time for Roland DG board of directors to review and consult with Brother. Additionally, it is intended to allow shareholders of Roland DG sufficient time to make informed decisions.
Brother was established in 1908 repairing sewing machines and has since grown to produce a range of printing related technology for use in home, office and industrial environments.
