NYK's ¥10,600 Bid for NS United Kaiun Zeroes the Dividend - But Only If the Deal Closes
Nippon Yusen wants full control of dry-bulk carrier NS United Kaiun at ¥10,600 a share, a premium of roughly 37%, but the target's board has voted to cancel this year's dividend only if the tender succeeds, and top shareholder Nippon Steel will accept a lower price in a separate second-stage buyback.