Simpson Thacher is representing Kohlberg Kravis Roberts & Co. L.P. in connection with the tender offer by its affiliate (the “Offeror”) and subsequent related transactions to acquire Hitachi Transport System, Ltd. (“HTS”). HTS provides supply chain solutions for customers who outsource logistics functions such as logistics system integration, inventory and order control, logistics center operations, factory logistics, and transportation and delivery services.
In connection with the tender offer, the Offeror has entered into an agreement with Hitachi Ltd. (“Hitachi”) whereby, following a share consolidation after the successful completion of the tender offer, HTS will acquire Hitachi’s 39.91% holding in a share buyback. Thereafter, Hitachi will reinvest by acquiring 10% of shares with voting rights in the parent company of the Offeror and KKR will retain ownership of the remaining 90%. The planned acquisition contemplates a tender offer price of JPY8,913 per share and a share buyback price of JPY6,632 per share. The commencement of the tender offer is subject to the fulfillment of certain regulatory approvals and other conditions.
The Simpson Thacher team includes Noritaka Kumamoto, Jonathan Stradling and Daisuke Ueta (M&A – Tokyo); Ian Ho (M&A – Hong Kong); Makiko Harunari, Atsushi Usui and Ron Yung (Credit); Étienne Renaudeau, Kelly Karapetyan, Pauline Patat, Henry Llewellyn and Sandrine Mathieu (Antitrust); Mark Skerry and Samantha Sergent (Regulatory); and Marcy Geller and William Smolinski (Tax).