Nippon Mining Holdings Proposes TOB for Toho Titanium

Nippon Mining Holdings announced on Wednesday the firm acquires common stocks of Toho Titanium through a takeover bid. Nippon Mining Holdings is now the largest shareholder with 34.28% shares in Toho Titanium. Through the TOB, the firm aims to acquire common stocks held by Mitsui & Co., the second large shareholder in Toho Titanium, and raise the equity stake to 42.94%. Toho Titanium is expected to become a consolidated subsidiary of Nippon Mining Holdings after the TOB.Nippon Mining Holdings and Mitsui basically agreed for the TOB. Toho Titanium announced on the same day the firm accepts the TOB.