Nissan supplier Calsonic Kansei Corp says board to discuss KKR bid

Calsonic Kansei Corp stated it would talk KKR & Co’s bid for the Nissan Motor supplier at its board meeting in the future, nearing a deal of $3.6 billion and sending its shares to a record high.

U.S. buyout company KKR & Co is preparing to acquire entire 41 percent stake held by Nissan in Calsonic and the rest from the market, the Nikkei daily reported, without mentioning sources. The offer is most likely to be worth 400 billion yen ($3.61 billion), the paper stated.

In a statement, Calsonic said the concern would be put for discussion at its board conference. Calsonic shares leapt over 9 percent to 1,443 yen instantly after the marketplace opened.

Bain Capital and MBK Partners had likewise bid to purchase the auto parts maker, which has a market value of about $3.3 billion, people with direct knowledge of the matter informed Reuters during September.

Calsonic works on interiors, electronics, air-conditioning units and compressors, and counts on Nissan for about 80 percent of its worldwide sales.

KKR had likewise been interested in purchasing Takata Corp, the Japanese parts maker at the center of the world’s biggest vehicle recall but the buyout firm was no longer in the bidding, sources informed Reuters earlier this month.

Nissan shares were dropped 1 percent to 1,029 yen ($9.29).