Yokogawa Bridge Holdings said on 4 February 2026 that it would make a tender offer for all shares of Br. Holdings, a Tokyo Prime-listed builder of prestressed-concrete bridges, at ¥530 per share, valuing the equity at about ¥24.1bn.
Why Yokogawa Bridge Holdings Corp. is buying Br. Holdings Corporation
Yokogawa Bridge said combining its steel bridge business with one of Japan's leading prestressed-concrete specialists would create an integrated bridge engineering group, with synergies in technical proposals for new bridges and especially in maintenance, where demand is rising as a growing share of Japan's bridges pass 50 years old.
Deal terms and financing
The offer ran from 5 February to 23 March 2026, with a minimum of 29,659,800 shares and no upper limit. Stock acquisition rights were also bought at ¥105,800 each. Yokogawa Bridge approached Br. Holdings with a proposal on 14 November 2025.
Regulatory approvals and timing
The offer succeeded with 36,026,555 shares tendered. Br. Holdings became a consolidated subsidiary of Yokogawa Bridge on 30 March 2026 and is expected to be delisted after squeeze-out procedures; the Japan Exchange Group had placed the shares under supervision on announcement.
Market context
Yokogawa Bridge traces its origins to 1907, when it was founded as Japan's first specialist bridge and steel frame maker. Br. Holdings, headquartered in Hiroshima, heads a group that has carried out prestressed-concrete bridge work since 1955.
