By most measures, a takeover bid for a publicly listed drywall maker shouldn’t be a monumental event.
Yet the successful acquisition of Chiyoda Ute Co. by Knauf International GmbH might offer a few lessons into how such deals can be pulled off in a country with a reputation for being hostile to uninvited takeovers.
After steadily acquiring 93% of the company, closely held Knauf is squeezing out remaining shareholders and will soon gain full control of Japan’s second-largest maker of the walls found inside of homes and offices.