Blackstone is reportedly preparing to acquire TechnoPro Holdings, one of Japan’s leading engineering staffing firms, in a deal valued at approximately ¥500 billion ($3.39 billion), according to the Nikkei. The private equity giant is expected to offer just under ¥4,900 per share in a tender offer it plans to launch soon.
Following the report, TechnoPro confirmed it is evaluating Blackstone’s privatization proposal as a potential strategy to enhance shareholder value but emphasized that no final decision has been made. Blackstone has not issued a comment.
Shares of TechnoPro closed at ¥4,977 on Tuesday, up 0.4%. The stock saw a significant rise last month after reports emerged that the company was considering going private. Prior to that, it had traded mostly between ¥3,000 and ¥4,400 this year.
Source: Reuters
