Duo Advised Paloma Rheem And Fujitsu General In USD 1.6 Billion Takeover Deal

Duo Advised Paloma Rheem and Fujitsu General in USD 1.6 Billion Takeover Deal

Paloma Rheem Holdings, a Japanese manufacturer of oven ranges and water heaters, has announced a proposed USD 1.6 billion acquisition of air conditioner maker Fujitsu General.

The deal, structured as a tender offer, is being advised by Mori Hamada & Matsumoto, with Partner Akira Matsushita leading the team representing Paloma Rheem. On the other side, Fujitsu General is being represented by Nagashima Ohno & Tsunematsu, with Partners Yuko

Tamai and Shuichi Nishimura serving as lead counsel.

The acquisition, which aims to make Fujitsu General a wholly-owned subsidiary of Paloma Rheem, will involve purchasing all of the air conditioner maker’s outstanding common shares. However, Fujitsu Limited, the largest shareholder of Fujitsu General, will not tender its 44.02% stake in the company. Instead, Fujitsu Limited plans to sell its shares back to Fujitsu General through a share repurchase program following the tender offer.

This move is part of Paloma Rheem's strategy to expand its operations, with the company’s offer pending approval and completion of the necessary legal processes.