Japanese activist investor Yoshiaki Murakami made an offer for Toshiba Machine Co. Ltd. in a bid seen to disrupt a deal to take over semiconductor manufacturer NuFlare Technology Inc., Bloomberg News reported.
Toshiba Machine did not disclose Murakami's offer price. The company said it was not consulted on the Murakami bid but that it could block the offer by issuing share warrants, according to the Jan. 18 report.
Murakami made his offer after Toshiba Machine said it had agreed to tender its shares in NuFlare to Toshiba Corp. Toshiba is NuFlare's largest stakeholder and holds 52.4% in the company before it started the buyout. Toshiba was able to win over rival bidder HOYA Corp. Murakami has built a 6.2% stake in NuFlare since Toshiba announced its buyout plans, Reuters reported in December. Funds backed by Murakami are Toshiba Machine's largest shareholder, with a 9.2% stake.