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.