KKR Unit Logisteed Offers to Buy Alps Logistics at 33% Premium

KKR & Co.’s Logisteed unit announced a tender offer for Alps Logistics Co. at ¥5,774 ($37.05) per share, a 33% premium to Thursday’s closing price of ¥4,350, confirming a Bloomberg News report from the previous day.

Alps Logistics shares surged 12% Wednesday following the Bloomberg report, and added another 14% Thursday, bringing the company’s market value to a record $990 million.

Logisteed was named Hitachi Transport Systems Ltd. before New York-based KKR bought it last year. Alps Alpine has a nearly 47% stake in Alps Logistics. 　

--With assistance from Yuji Okada.

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