Thai Union Group Public Company Limited (SET: TU) has informed the Stock Exchange of Thailand that, on 29 September 2025, the company was formally notified by Mitsubishi Corporation that the offer to acquire additional shares in the company is automatically cancelled due to insufficient acceptance at the end of the offer period.
The offer is automatically cancelled pursuant to a condition in the offer documents in relation to the offer, providing that the offer shall be automatically cancelled if at the end of the offer period, the total number of shares intended to be sold by the shareholders under the offer is less than 532,273,639 shares in TU, representing 11.95% (including treasury shares held by the company) or 13.81% (excluding treasury shares held by the company) of the total issued shares in the company.
Following the closure of the offer period on 26 September 2025, the number of shares intended to be sold was not sufficient to meet the minimum threshold specified above and, as a result, the Offer shall be deemed automatically cancelled.
All shareholders who have already expressed their intention to sell their shares will have their shares returned to them in accordance with the procedures set out in the offer documents. No purchase of shares by Mitsubishi will take place, and no payment will be made by Mitsubishi to any of such shareholders under this cancelled offer.
Mitsubishi’s shareholding in TU remains unchanged at 238,745,120 shares in TU, representing 5.36% (including treasury shares held by the company) or 6.19% (excluding treasury shares held by the company) of the total issued shares in the company.
TU has clarified that the automatic cancellation of the offer, as outlined above, will have no impact on the company’s business plans or operations. The decades-long strategic and business collaboration between TU and Mitsubishi, which began in 1991, will remain unaffected and continue. Despite this outcome, Mitsubishi remains committed to the strategic partnership with the company, and will continue to explore growth opportunities and further collaboration with the company through its existing shareholding.
