Orix (IX) said Monday it has agreed to acquire construction machinery trading company Taihei Trading and its affiliates.
Financial terms were not provided.
The company said it will acquire all shares of Taihei by the end of October, after notices to authorities have been completed.
Taihei and its affiliates are engaged in procurement, sale, transportation, operator-inclusive rental and resale of mobile cranes, hydraulic excavators, and other construction machinery, Orix said.
Shares of Orix were down 1.5% in premarket activity Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.