Minebea Stays Pat in Bidding War for Japan Sensor Maker Shibaura

Minebea Mitsumi Inc.’s latest offer for Shibaura Electronics Co. is likely its final bid, according to the former’s chief executive officer, signaling an end to a months-long takeover battle for the Japanese maker of car and server sensors.

Minebea, which makes controllers for Nintendo Co.’s Switch, last week raised its bid for Shibaura by about 13% to ¥6,200 per share. That matches a competing takeover proposal put forth by Taiwan’s Yageo Corp., valuing the target at about ¥96.7 billion ($656 million). Yageo on Monday said it’s considering changing its offer for Shibaura in response to Minebea’s raised bid.