TOKYO -- Taisho Pharmaceutical Holdings on Friday announced an offer by management to take the company private, looking to facilitate a pivot toward online and overseas sales of its mainstay over-the-counter drugs amid a weak domestic market.
A company owned by Taisho Executive Vice President Shigeru Uehara, a member of the family who together holds roughly 40% of the drugmaker's stock, is offering 8,620 yen per share, a premium of over 50% from Friday's close. This would work out to 710 billion yen ($4.75 billion) for all common stock, making it Japan's largest-ever management buyout.
