TOKYO, Jan 31 (Reuters) - Nippon Steel (5401.T) , opens new tab will launch a $456 million tender offer to make Sanyo Special Steel (5481.T) , opens new tab a wholly owned unit, Japan's biggest steelmaker said on Friday.

Nippon Steel will offer 2,750 yen ($17.78) a share, or a 37% premium over Sanyo Special Steel's closing price on Friday, spending a total 70.45 billion yen ($455.66 million), it said in a statement.

($1 = 154.7100 yen)

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https://www.reuters.com/markets/commodities/nippon-steel-launches-456-mln-bid-acquire-sanyo-special-steel-2025-01-31/