KYOTO/TOKYO — Japanese motor manufacturer Nidec announced on Friday that it will make a takeover bid for Makino Milling Machine, a Tokyo-listed machine tool manufacturer. The announcement was made public without the consent of Makino’s management.
Nidec will offer 11,000 yen per share with a 41.94% premium over the Thursday closing price of 7,750 yen. If Nidec buys all of Makino’s shares, the total cost will exceed 250 billion yen ($1.6 billion).
