Integral OS Partnership 1 and Spring L.P. made a takeover bid to acquire remaining stake in Ohizumi Mfg. Co., Ltd. (TSE:6618) from WL Ross & Co. LLC through its fund Asia Recovery Fund, L.P., Asia Recovery Co-Investment Partners Fund, L.P. and WLR Recovery Fund II, L.P. for ¥3.1 billion on November 11, 2016. Under the terms, the Integral OS Partnership 1 and Spring L.P will acquire 8.4 million shares subject to a minimum of 2.441 million shares at ¥370 per share. The offer will begin on November 14, 2016 and end on December 13, 2016. Settlement will begin on December 20, 2016. Board of Directors of Ohizumi Mfg. Co., Ltd made a resolution in favor of the transaction on November 11, 2016. Tokyo Financial Advisers acted as appraiser in the transaction. City-Yuwa Partners acted as legal advisor for Ohizumi Mfg. Daiwa Securities Co. Ltd. acted as tender offer agent. Masahisa Ikeda of Shearman & Sterling LLP acted as legal advisor for Integral Corporation.