KOEI CHEMICAL COMPANY,LIMITED [4367.T]
TOKYO, May 13 (Pulse News Wire) – Koei Chemical Company,limited (4367.T) and Koei Chemical Co., Ltd. agreed to a share swap making Koei a wholly-owned subsidiary.
The swap ratio is set at 4.91 shares of Sumitomo for each share of Koei. Sumitomo's board approved the deal on May 13, pending Koei shareholders' approval at its annual meeting on June 25. The transaction is expected to take effect Aug. 1, subject to regulatory approvals. Under the agreement, Sumitomo will acquire all outstanding shares of Koei, which will delist from the Tokyo Stock Exchange on July 30.
Sumitomo holds approximately 49.1% of Koei’s shares currently. The companies aim to leverage combined technologies and expand operations globally through integrated management. Sumitomo expects synergies in advanced medical solutions and chemical manufacturing. Both firms believe the merger will enhance shareholder value and operational efficiency. Post-merger, Sumitomo plans to integrate Koei's multi-plants into its global supply chain, targeting growth in high-value products and services.
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