By Kantaro Komiya and Rocky Swift TOKYO (Reuters) -Japanese manufacturing giant Nidec said on Friday it planned to launch a 257 billion yen ($1.6 billion) bid for Makino Milling Machine, a surprise unsolicited takeover offer in a country better known for agreed deals.

KYOTO -- Japanese motor manufacturer Nidec is set to make a takeover bid for Makino Milling Machine, a major machine tool manufacturer, without the consent of Makino's management, Nikkei has learned.

JAPANESE manufacturing giant Nidec said on Friday (Dec 27) it planned to launch a tender offer for Makino Milling Machine at a 42 per cent premium to Thursday’s closing share price, with or without the target company’s approval.

By Kantaro Komiya and Rocky Swift TOKYO (Reuters) -Japanese manufacturing giant Nidec said on Friday it planned to launch a 257 billion yen ($1.6 billion) bid for Makino Milling Machine, a surprise unsolicited takeover offer in a country better known for agreed deals.

KYOTO -- Japanese motor manufacturer Nidek is set to make a takeover bid for Makino Milling Machine, a major machine tool manufacturer, without the consent of Makino's management, Nikkei has learned. Makino's market capitalization stood at 190 billion yen after its stock price closed at 7,750 yen on Thursday.

Nidec Corp. is offering ¥257.3 billion ($1.6 billion) to take over machine tool builder Makino Milling Machine Co., initiating a rare unsolicited takeover of a Japanese company.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayMigrant Crisis Pushed US Homelessness to Record High in 2024The Kyoto-based maker of precision and automotive motors said it’s offering ¥11,