TOKYO -- Makino Milling Machine, a Tokyo-listed machine tool manufacturer, announced Thursday that it has decided to oppose a takeover bid by Japanese motor maker Nidec.
The decision was finalized at a board meeting. The board considers Nidec's takeover bid as not serving shareholders' best interests, particularly given the potential for rival bids. The board will approve a defense measure to fend off the unsolicited takeover bid.
