Optical Communications launches tender offer, Leopalace shares surge.

Japanese residential real estate company Leopalace21 saw its shares suspended from trading after receiving a takeover offer from a consortium led by Hikari Tsushin, with buying pushing the stock up to its daily limit of 791 yen. Leopalace21 said in a statement that a subsidiary backed by Hikari Tsushin, MBK Partners and NEC launched a tender offer of 1,000 yen per share, and the company supports the acquisition. SMBC Nikko Securities analyst Junichi Tazawa said in a research note that the offer price represents a premium of about 45% over Monday's closing price and is "not much different" from recent acquisition offers for other real estate companies. The market expects the deal to be completed smoothly. Note: Leopalace21 shares closed at 691 yen in the Tokyo market on Monday.