BUSINESS INSIDER
November 8th, 2020
Yamagato Industries stocks plummeted on Monday morning on the Tokyo Stock Exchange with news that its subsidiary, the Canada-based Renautas company had been acquired through a hostile takeover by German nanotechnology corporation Weiss Evolved Nanotech. In publications made available Monday morning in Japan, majority shareholders in Renautas unanimously agreed to a merger with Weiss. The transition of control will form a new corporation, Renautas-Weiss Evolved Nanotech.
Renautas CEO Heather Staffeldt will be stepping down from her role, replaced by Weiss CEO and founder Cecilia Weiss. Ms. Weiss spoke with reporters from Frankfurter Allgemeine Zeitung in Berlin early Monday morning shortly following the news from Tokyo. "The Renautas Company is one of the world's leading developers of SLC-Expressive interfacing scientific hardware. I firmly believe that the merger with Weiss will allow Renautas to reinvent itself and innovate technology that can accelerate the evolution of our understanding of SLC-Expressives and the world."
Yamagato Industries CEO Kimiko Nakamura did not reply for comment on this startling upset at the time of this publication.