Cleary Gottlieb is serving as US counsel to the Japanese company TDK Corporation in its all cash public tender offer for all outstanding shares of Micronas Semiconductor, a Swiss company. The tender offer price was 7.50 Swiss francs ($7.54) per share for a total deal value of up to $214 million. Micronas’s board has approved the plan and the deal is expected to close in early February 2016.
TDK Corp is a leading electronics company based in Tokyo, Japan. Micronas is a supplier of magnetic sensors for the automotive industry.