Japanese fashion apparel maker World Co. said Friday it has successfully completed its tender offer in a management buyout plan that will turn the company into a privately owned corporation.
During the 37-day tender offer that ended Thursday, the management of the company, based in Kobe, purchased all 44,159,907 shares offered by 3,389 shareholders, compared with a targeted 30,993,700 shares. It paid 4,700 yen per share and acquired 94.99 percent of all outstanding shares.
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