Simpson Thacher is representing Kohlberg Kravis Roberts & Co. L.P. in connection with the planned tender offer by KKR’s affiliate, HK Holdings Co., Ltd., to obtain up to 100% of the issued and outstanding common shares of Hitachi Koki Co., Ltd. (“Hitachi Koki”). In connection with the tender offer, KKR has entered into a tender agreement with Hitachi Ltd. (“Hitachi”) and Hitachi Urban Investment, Ltd. (“HUI”), pursuant to which Hitachi and HUI have agreed, subject to certain conditions, to tender their approximate 40.25% and 10.9% holdings, respectively, of Hitachi Koki’s common shares. The planned offer price and other transaction terms value Hitachi Koki at approximately ¥147.1 billion (approximately $1.28 billion). The commencement of the tender offer is subject to the fulfillment of certain regulatory approvals and other conditions.
Hitachi Koki is a leading manufacturer and seller of power tools as well as life science instruments. In March 2016, Hitachi Koki acquired metabo Aktiengesellschaft, a German power tool manufacturer, enhancing Hitachi Koki’s growth prospects in Europe.
The Simpson Thacher team includes David Sneider, Noritaka Kumamoto, Shannon Itoyama, Michael Young and Dan Miyagishi (M&A); Lori Lesser, Marcela Robledo and Alex Moser (IP); Makiko Harunari (Financing); Adeeb Fadil and Noreen Lavan (Environmental); David Vann, Michael Naughton, Kenneth Ehrhard, Joseph Thomas and Tara Kelly (Antitrust); and Joyce Xu and Andy Des Rault (Derivatives).