TOKYO -- After several twists and turns, U.S. investment fund KKR has managed to successfully complete its tender offer for Hitachi Kokusai Electric, a chip-making equipment subsidiary of Japanese conglomerate Hitachi.
The completion of the tender offer on Friday came after KKR raised its offer price for Hitachi Kokusai twice following its first approach in April, in response to pressure from Elliott Management, the U.S. hedge fund and activist investor.
