TOKYO (Reuters) – Japanese machine tool manufacturer Makino Milling Machine said on Wednesday that it asked Nidec to make changes to an unsolicited takeover bid announced last month.
Makino said in a statement it asked Nidec to push back the tender offer launch date to May 9 from April 4, and to revise the minimum takeover threshold to two-thirds from one-half.
Nidec, the world’s top manufacturer of precision motors, had said on Dec. 27 it plans to clear regulatory processes by early April and launch the tender offer on April 4.
(Reporting by Satoshi Sugiyama, Mariko Katsumura and Rocky Swift; Editing by Tom Hogue)
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