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Japan's Paloma to buy Fujitsu General for $1.6 billion through tender offer

( January 7, 2025, 03:58 GMT | Official Statement) -- MLex Summary: Japan’s Paloma Rheem Holdings, a leading water heating equipment manufacturer, announced on Monday its agreement to acquire shares of Fujitsu General through a tender offer. Paloma plans to purchase approximately 54 percent of the shares from the market at a price of 2,808 yen per share, and an additional 44 percent from technology company Fujitsu. The total transaction, amounting to 256 billion yen ($1.6 billion), is intended to bolster Paloma's air-conditioning business internationally. The deal is subject to approval from competition regulators in Japan, the European Union, India, Saudi Arabia, and the US. Paloma aims to initiate the public tender offer by early July 2025. The statement is attached....

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