NEC to Take Subsidiary NEC Networks Private in $1.5 Billion Deal

NEC Corp. plans to take its subsidiary NEC Networks & System Integration Corp. private, buying all the remaining shares in the company that it doesn’t already own for as much as ¥235.5 billion ($1.5 billion).

NEC is offering ¥3,250 for each share of NEC Networks it doesn’t own, according to a statement. That represents a premium of 21.5% from the previous day’s close. NEC holds 51.25% of NEC Networks, data compiled by Bloomberg show. NEC Networks will be delisted at the conclusion of the tender, it said.

NEC Networks postponed its second-quarter earnings announcement earlier on Tuesday, citing “internal procedures.” ...