Schott has announced that it will launch a tender offer for Japanese optical equipment maker Moritex.
Under the tender offer, running from 25 September through to 23 October, Schott intends to acquire a 51 per cent stake in Moritex at 740 yen per share for a maximum total of about five billion yen.
Moritex, which has indicated it will agree to the bid, plans to expand overseas operations under the control of Schott, which holds a 2.23 per cent stake in the Japanese company at present.
Moritex expects to welcome two board directors from Schott.
If Schott fails to obtain at least 33 per cent of Moritex outstanding shares it will not purchase the offered shares.
