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Makino Milling Confirms NSSK Acquisition Proposal; Shares Surge 10%

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Makino Milling Machine (TYO:6135) responded to media speculation, confirming that it has received an acquisition proposal from private equity firm Nippon Sangyo Suishin Kiko (NSSK).

While clarifying that it did not initiate the press reports, the Japanese machine tool manufacturer said in a Tokyo bourse filing on Thursday that it is currently evaluating the proposal through a special committee following an earlier non-binding initial proposal in April.

No decision has been made yet, and the company will disclose any material developments as appropriate while exploring all options to maximize shareholder value, it added.

Shares of Makino Milling rose 10% in recent trade in Tokyo.

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