-- Infroneer Holdings (TYO:5076) said its subsidiary Sumitomo Mitsui Construction completed a tender offer for shares of Sumiken Mitsui Road (TYO:1776), acquiring 3.9 million shares and raising its ownership to 95%, according to a Wednesday filing on the Tokyo Stock Exchange.
The tender offer, launched on March 10, was conducted at 2,000 yen per share and exceeded the minimum acceptance threshold, resulting in the purchase of all tendered shares.
Following the transaction, Sumitomo Mitsui Construction plans to carry out squeeze-out procedures to make Sumiken Mitsui Road a wholly owned subsidiary, which could lead to the company's delisting from the Tokyo Stock Exchange.