Hitachi acquires Clarion for $465 million

Hitachi acquires Clarion for $465 million

Japanese tech giant Hitachi has confirmed that they are now acquiring car electronics maker Clarion Co. Ltd.

The deal could be worth around 465 million and it is a 52 percent premium to its last closing price.

Hitachi is already the Japan’s largest electronics conglomerate and was one of the largest shareholders in Clarion prior to the acquisition.

They now plan to launch a tender offer for the remaining shares from October 25 at 230 yen apiece.

The company aims to acquire at least a 50 percent stake in Clarion but could go on to buy whole of the company if the demand is strong enough.