Topcon Gets $2.4 Billion Management Buyout Offer Backed by KKR

Topcon Corp.’s chief executive officer is leading a management buyout, backed by KKR & Co. and a unit of Japan Investment Corp., that values the Japanese optical and medical equipment maker at about ¥358 billion ($2.4 billion).

A consortium led by Topcon CEO Takashi Eto offers 3,300 yen per share to take the Tokyo-listed company private, according to a statement on Friday. Shares closed at 3,130 yen each on Friday. Topcon’s board of directors support the buyout offer and recommend shareholders to tender their shares.

US activist investor ValueAct Capital, which has been urging Topcon to hive off ...