State-backed Japan Investment Corp is in talks to buy the country's top chipmaker, JSR Corp , for about 1 trillion yen ($7 billion), the Nikkei business daily reported on Saturday.
June 24 - State-backed Japan Investment Corp is in talks to buy the country's top chipmaker, JSR CorpThe fund aims to make a tender offer as early as this year after clearing the buyout with domestic and foreign antitrust authorities, the report said. The newspaper did not cite a source for its information.
If the deal goes through, JSR would delist from the Tokyo Stock Exchange as soon as 2024, according to Nikkei. JSR, set up in 1957 as a government-backed synthetic rubber maker, now supplies photoresists to global chipmakers. They are used to transfer circuit patterns onto semiconductor wafers. To purchase JSR, JIC intends to establish a new company with 500 billion yen in capital, while Mizuho Bank, a part of Mizuho Financial GroupThe fund plans to raise 100 billion yen via preferred shares and subordinated loans underwritten by various banks, the newspaper said.
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