Shintaro Matsuki made a tender offer to acquire Sakai Ovex Co.,Ltd. (TSE:3408) from Nippon Active Value Fund plc (LSE:NAVF) managed by International Fund Management Limited and others for ¥17.6 billion on February 9, 2021. Shintaro Matsuki agreed to acquire Sakai Ovex Co.,Ltd. from Nippon Active Value Fund plc managed by International Fund Management Limited and others for ¥18.6 billion on March 8, 2021. The offer is extended to common shares at ¥2,850 per share and Stock Acquisition Rights at ¥1 per right. As of March 8, 2021, the offer is extended to common shares at ¥3000 per share and Stock Acquisition Rights at ¥1 per right. All 6.2 million shares will be acquired. Shintaro Matsuki is the President and Chief Executive Officer of Sakai Ovex. Nippon Active Value Fund has accepted the offer for the 0.39 million shares it holds. Nippon Active Value Fund, which previously launched a tender offer for Sakai Ovex Co.,Ltd. at ¥2350 per share has withdrawn that offer. Post completion, Sakai Ovex Co.,Ltd. will be de-listed. The Board of Directors of Sakai Ovex Co.,Ltd. is in favor of the deal. The lower limit of the shares to be purchased is 4.1 million and there is no upper limit. Sakai Ovex Co.,Ltd. established a special committee The offer is valid for acceptances from February 9, 2021 to March 24, 2021. TMI Associates acted as legal advisor and KPMG FAS Co., Ltd. acted as financial advisor for Shintaro Matsuki, NAVF and Sakai Ovex. Mizuho Securities Co., Ltd. acted as tender offer agent.