Yokohama Provides Update on Trelleborg Acquisition
Yokohama Rubber Co. Ltd.'s acquisition of Trelleborg Wheel Systems' outstanding shares will be completed during the first half of 2023.
The deal - which was supposed to have closed during the second half of 2022 - was announced this past March.
Yokohama officials say the "acquisition of shares is subject to the completion of review by competition law authorities of each country and region." (Trelleborg is based in Sweden. Yokohama - which is the parent company of Yokohama Tire Corp. - is headquartered in Tokyo, Japan.)
The change in timing "will have little impact" on Yokohama's 2022 financial results.