New York (June 25, 2008)–Yamaha Corporation Japan plans to tender an offer to the founders of Nexo S.A. to acquire their shares of the French loudspeaker company. The Japanese pro audio giant already has a 10.22 percent interest in Nexo, which it purchased three years ago this month as part of a strategic alliance between the companies.
“The offer to purchase Nexo by our parent company Yamaha Corporation Japan, is a very positive move for both companies,” said Larry Italia, vice president/general manager, Yamaha Commercial Audio Systems, Inc. “Right now, it is business as usual for us, our dealers and our customers.”
According to a statement from Yamaha, the company “decided to take steps toward making Nexo a wholly owned subsidiary of the Yamaha Group by offering to acquire the shares of the founders and, thereafter, launching a tender offer to acquire the remainder of NEXO’s shares on the market.”
If the offer is accepted, Yamaha plans to continue developing the Nexo brand and create a synergy between the companies, combining technologies from each to provide more integrated solutions for each entity’s product lines.
Yamaha Commercial Audio Systems, Inc.