TOKYO -- Japanese precision parts supplier MinebeaMitsumi is raising its buyout offer for Shibaura Electronics in an attempt to outbid Taiwan's Yageo, escalating the battle for the leading producer of a key component in electric vehicles and industrial robots.
MinebeaMitsumi said on Thursday that it is lifting its offer to 5,500 yen ($38) per share from 4,500 yen, surpassing Yageo's latest bid of 5,400 yen.
