The share price of Thai Union Group Public Company Limited (SET: TU) saw an upward movement during the afternoon trading session, spurred by news regarding Mitsubishi Corporation’s withdrawal of its general share purchase offer. The stock closed 2.38% higher at THB 12.90 per share on Monday, reflecting renewed investor confidence after the cancellation.
In a report, Tisco Securities emphasized that the cancellation of the tender offer will not negatively impact Thai Union’s fundamentals. The firm pointed out that the operational and earnings outlook of the company remains robust, along with its ongoing strategic initiatives. Strong business momentum and a long-standing partnership with Mitsubishi are expected to drive Thai Union’s long-term growth.
Thai Union officially announced to the Stock Exchange of Thailand that it received a notification from Mitsubishi Corporation on September 29, 2025, indicating that the general offer to acquire additional shares was automatically cancelled. This cancellation occurred after the offer period ended on September 26, 2025, due to insufficient acceptance from shareholders. The offer required at least 532,273,639 shares to be sold, equating to approximately 11.95% of the company’s total issued shares (or 13.81% when excluding treasury shares). However, the number of shares indicated for sale fell short of this requirement, leading to the automatic cancellation.
As a result, shareholders who had expressed interest in selling their shares will have them returned as per the outlined procedures in the offer documents. It was also affirmed that no purchases of shares will occur, and no payments will be made to those shareholders affected by the cancelled offer.
Following the cancellation, Mitsubishi’s stake in Thai Union remains intact at 238,745,120 shares, which represents 5.36% of the total issued shares, including treasury shares, or 6.19% when excluding them. Thai Union has reiterated that this automatic cancellation will not interfere with its business plans or operational strategies. The long-standing collaboration between Thai Union and Mitsubishi, which began in 1991, will continue to prosper, with both firms seeking future growth opportunities together. Despite the tender offer’s failure, Mitsubishi remains dedicated to its strategic partnership with Thai Union.
