Japan’s Nidec Makes $1.6 Billion Unsolicited Bid for Makino (2)

Nidec Corp. is offering ¥257.3 billion ($1.6 billion) to take over machine tool builder Makino Milling Machine Co., initiating a rare unsolicited takeover of a Japanese company.

The Kyoto-based maker of precision and automotive motors said it’s offering ¥11,000 per share for Makino Milling, a 42% premium to the company’s Thursday close. Makino Milling’s shares went untraded Friday morning because of a glut of buy orders. Nidec’s stock rose as much as 5.3% after announcing the tender offer, which was reported earlier by the Nikkei as a hostile bid.

Nidec, the world’s top maker of mini motors, is fighting ...