News

The Crosby Group to Commence Cash Tender Offer for All Outstanding Shares of KITO CORPORATION

2022-09-22

RICHARDSON, Texas, United States, and SHOWA-CHO, Yamanashi, Japan, September 22, 2022 – The Crosby Group, a leading provider of lifting and rigging solutions, and KITO CORPORATION, a leading manufacturer of material handling equipment with 90 years of experience in the development and production of hoists and cranes, today announced that they have secured all regulatory clearances for their business combination and that The Crosby Group will commence a cash tender offer to acquire all outstanding shares of KITO CORPORATION for JPY 2,725 per share on September 26. The cash tender offer price represents a premium of 64.3% compared to KITO CORPORATION’s undisturbed closing share price on May 13, the last trading day before the transaction was originally announced.

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