Elevator maker Fujitec Co.’s shares plunged Wednesday after Swedish investment firm EQT said it plans to launch a tender offer for the company that, if executed, would mark an end to one of Japan’s most high-profile activist investor stories to date.
Fujitec’s stock fell the most since August 2015, closing 9.5% lower in Tokyo, on EQT’s proposed offer of ¥5,700 per share, which represents a roughly 8% discount from Tuesday’s closing level.
The firm will launch its offer in or around late January, it said in a statement Wednesday morning. The total purchase price will be around ¥407.8 billion ($2.8 ...