TOKYO -- Multiple investment funds have submitted takeover bids for Japan's Makino Milling Machine in response to motor manufacturer Nidec's December bid to acquire the company, Nikkei has learned, which could lead to a competition between the bidders for the Tokyo-listed machine tool manufacturer.
Makino announced on Monday that several potential bidders -- without naming them -- had submitted letters of intent to acquire the company by the end of February. The proposals are at an early stage, the company said. "We will do our utmost to present the best options and results for our shareholders."
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