Hostile Japanese deal propels Abe’s third arrow, says jgfarb:
Japanese trading house Itochu said on March 15 that it had increased its stake in sportswear maker Descente to 40 percent from 30 percent, in what amounts to a rare hostile takeover for the country. A stake of more than one third gives Itochu veto power over strategic decisions like acquisitions.
Itochu’s tender offer, which began on Jan. 31, proposed buying shares at 2,800 yen apiece, a 50 percent premium to where they had been trading.
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