KKR & Co. Inc. (KKR), an investment firm, Monday said that it will launch a tender offer to acquire Topcon Corporation, through an entity owned by the investment funds managed by KKR.
The offer to buy Topcon and share acquisition rights, excluding treasury shares held by Topcon, with a tender offer price of JPY 3,300 per share and JPY 193,400 per 7th Series share acquisition right will start on July 29, through September 9, 2025.
Topcon, which develops optical, sensing, and control solutions leveraging its digital transformation technologies, is pursuing the company's long-term vision leading up to its 100th anniversary in 2032. Under its "Mid-Term Management Plan 2025", which the company has been implementing, it could bring about sustainable business growth and increase in profitability.
Topcon President and CEO, Takashi Eto, has agreed to tender his shares into the offer. Upon closing the offer, Eto and funds managed by JIC Capital, Ltd. will invest in KKR-managed investment vehicles. The deal constitutes a management buyout. Additionally, funds managed by ValueAct Capital, a major shareholder of Topcon, have also agreed to tender shares in the offer and invest in KKR-managed investment vehicles.
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