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Investing.com-- Shares of Topcon Corp (TYO:7732) hit a record high on Thursday after Reuters reported that private equity giant KKR & Co (NYSE:KKR) is close to finalizing a deal to acquire the Japanese medical equipment maker.
While details on pricing remain undisclosed, the transaction could be signed in the coming days if negotiations proceed as planned, Reuters reported on Thursday citing sources familiar with the matter.
Topcon has a market value of around 327.10 billion yen ($2.18 billion).
As of 03:12 GMT, shares of the company rose 1.6% to 3,018.0 yen, their highest level ever
The deal underscores the growing interest from private equity firms in Japan, where corporate governance reforms, a weaker yen, and rising shareholder activism have fueled a surge in buyouts, Reuters noted.
Topcon has been exploring a sale with the help of advisers, attracting bids from multiple firms, according to the report.
Topcon, founded in 1932, produces eyecare technology, smart infrastructure solutions, and positioning products.
Activist investors ValueAct Capital and Oasis Management hold significant stakes in the company, Reuters reported.