Rising Sun Management Ltd (RSM) as advisor to Nippon Active Value Fund (NAVF) has sent a proposal to Sakai Ovex Co., Ltd (SO), a company in which NAVF currently holds in excess of 5% of the issued share capital, proposing that its board consider a management buyout of the whole company, backed in part by NAVF. RSM has proposed that the offer would be priced at ¥2,350 per share, a 12 per cent. premium to the closing bid price of the shares on 25 November 2020, valuing SO at approximately £103 mil ....
