Japan Residential Investment Company has announced that the third party, with which it has been in discussion with, regarding a potential bid has advised that it is no longer interested in making an offer for the company.
On 13 November 2015, Nikko III Pte. Ltd. and Japan Residential Investment Company announced that they had reached agreement on the terms of a recommended cash offer by Nikko III Pte. Ltd for the entire issued and to be issued share capital of Japan Residential Investment Company. The offer was for at 72p in cash for each Japan Residential Investment Company share.
On 25 November 2015, Japan Residential Investment Company’s board announced that it had received a separate approach from another third party at a price of 73.5p per share but that negotiations were ongoing and these may or may not lead to an offer. This third party has now notified Japan Residential Investment Company that it is no longer interested in making an offer. The company says that further announcements will be made as and when appropriate.
Japan Residential Investment Company – Alternative suitor pulls out : JRIC