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Toshiba to extend tender offer term for NuFlare purchase

Toshiba Corp. agreed to extend the tender offer period to fully buy its 52.4%-owned subsidiary NuFlare Technology Inc., at NuFlare's request.

The extension of the deadline to Jan. 16, 2020, from Dec. 25 comes after Hoya Corp. announced its intention to acquire the semiconductor manufacturing equipment provider for ¥147.72 billion if Toshiba fails to complete its tender offer.

NuFlare will revert to Hoya's proposal after weighing Toshiba's offer, the company said, according to Reuters.

As of Dec. 20, US$1 was equivalent to ¥109.47.