TOKYO (Reuters) – KKR-backed Crosby Group, a U.S. lifting and rigging company, will launch a tender offer for all of Japanese hoists and cranes maker Kito Corp for 56.48 billion yen ($438 million), the companies said on Monday.
The Crosby Group will offer 2,725 yen for each Kito share, they said, representing a 62% premium over its closing price of 1,680 yen on Monday.
($1 = 128.9800 yen)
(Reporting by Chang-Ran Kim; editing by Jason Neely)
