Tender Offer by TDK Corp

Cleary Gottlieb is serving as US counsel to the Japanese company TDK Corporation in its all cash public tender offer for all outstanding shares of Micronas Semiconductor, a Swiss company. The tender offer price was 7.50 Swiss francs ($7.54) per share for a total deal value of up to $214 million. Micronas’s board has approved the plan and the deal is expected to close in early February 2016.

TDK Corp is a leading electronics company based in Tokyo, Japan. Micronas is a supplier of magnetic sensors for the automotive industry.