TOKYO — Makino Milling Machine, a Tokyo-listed machine tool manufacturer, will oppose a takeover bid by Japanese motor manufacturer Nidec, sources familiar with the matter said.
The decision will be finalized at a board meeting. The board considers Nidec’s takeover bid as not serving shareholders’ best interests, particularly given the potential for rival bids. The board will approve a defense measure to fend off the unsolicited takeover bid.
