Blackstone to take Japan’s TechnoPro private for $3.4 billion

TOKYO, Aug 6 (Reuters) – Blackstone (BX.N) said on Wednesday that it will launch a $3.5 billion tender offer for TechnoPro Holdings (6028.T) the Japanese engineer staffing firm.

The world’s largest alternative asset manager is offering 507.4 billion yen or 4,870 yen per a share – a 17.4% premium to the share’s closing average for the past three months.

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TechnoPro shares closed down 2% at 4,876 yen.

The Nikkei business daily reported the plan late on Tuesday, saying Blackstone would offer a price below 4,900 yen.

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($1 = 147.4600 yen)