KKR (NYSE:KKR) is delaying its tender offer for Hitachi Transport System, according to a statement Hitachi Transport made Thursday.
The tender offer is now expected to start in early November compared with its original expectation to begin in late September 2022. In KKR's (KKR) letter to Hitachi Transport, the company said it based its new timeline on discussions with its foreign counsel.
"However, since it is difficult to estimate the time period required for the completion of the procedures, we will make an announcement promptly once the schedule of the tender offer has been determined," the notification to Hitachi Transport said.