Shin-Etsu to launch $553 mln offer for Mimasu

Japanese chip material maker Shin-Etsu Chemical 4063.T said on Thursday it will launch a tender offer for Mimasu Semiconductor Industry’s 8155.T shares in a 86 billion yen ($553 million) deal.

Shin-Etsu will pay 3,700 yen per Mimasu share to raise its stake in the silicon wafer company to 100% from current 42.75%, and the tender offer is set to start in late July, the company said in a statement. Reuters