KKR’s tender offer for Hitachi Transport to be delayed -statement

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FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York

TOKYO (Reuters) – Japan’s Hitachi Transport System Ltd said on Thursday it had been informed by KKR & Co that the private equity firm’s tender offer for it would be delayed from the initially planned end-September start.

In a statement, Hitachi Ltd’s logistics arm cited KKR as saying it would now aim for a mid-November start pending regulatory approval and other processes.

KKR announced the estimated 670 billion yen ($4.63 billion) deal in April, offering 8,913 yen per share.

($1 = 144.7600 yen)

(Reporting by Chang-Ran Kim and Makiko Yamazaki; editing by Jason Neely)

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