Motorola to Acquire Controlling Interest in Parent Company of Yaesu

According to a press release issued by Motorola, Motorola USA has announced its intention to "launch a tender offer to acquire a controlling interest in Vertex Standard Co., Ltd." Vertex Standard is the parent company of Yaesu. Upon successful completion of the tender offer and subsequent restructuring process, Motorola will own 80 percent of Vertex Standard; Tokogiken, a privately held Japanese company, controlled by current president and CEO of Vertex Standard Jun Hasegawa, will retain 20 percent, forming a joint venture. The total purchase price for 80 percent of the outstanding shares on a fully diluted basis will be approximately ¥12.3 billion (approximately US $108 million). The bid will start November 6 and end on December 26. If the bid succeeds, shares of Vertex would be delisted from the Jasdaq Securities Exchange in Japan.

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