New Japanese guidelines to promote more mergers and acquisitions and remove a long-held stigma around unsolicited bids will be a boon for the world’s top maker of electric motors, Nidec, its chief executive said. | Reuters
“We will have a better chance of buying a bigger company in a shorter period of time,” he said.
The guidelines, to be finalized in late August, set out a code of conduct for mergers and acquisitions , cracking down on unreasonable defense tactics and other steps that should reduce the reluctance for unsolicited takeovers. In corporate Japan, unsolicited bids have been seen as too adversarial. The taboo is such that Nidec was not able to find a major securities firm to advise on its unsolicited bid, Nagamori said.
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