Japanese media have reported Mitsubishi Chemical Holdings Corp. is planning to make a $980m (¥100bn) offer to secure a majority stake in Taiyo Nippon Sanson Corporation (TNSC) – although no official statement from either company has been released.
It was stated that Mitsubishi Chemicals intended to bolster its share in TNSC with the offer yesterday, of 1,030 Yen per share – nearly doubling its stake from 27% to a majority holding of 51%.
If the deal is completed, it will likely see TNSC become an even larger Tier One power – thanks to the expansion into a flourishing overseas market. Mitsubishi Chemical’s position in the US petrochemicals sector will be consolidated – thanks to the abundance in the country of cheap gas due to the shale gas revolution.
TNSC firmly became a Tier One power in October 2004 when Nippon Sanso Corporation allied with Taiyo Toyo Sanso to create TNSC as we know it today, a move that created the undisputed market leader in Japan. But aside from its domestic ambitions, TNSC had an even greater goal in mind: to become a market leader around the world.
... to continue reading you must be subscribed
