Steel Partners emerges as biggest shareholder of Ezaki Glico
(Kyodo) _ U.S. investment fund Steel Partners has emerged as the biggest shareholder of leading Japanese confectioner Ezaki Glico Co. with a 12.45 percent stake, according to a report submitted Friday by the fund to the Finance Ministry.
The U.S. fund, known in Japan for its past hostile takeover bids in the country, said in its report to the ministry's Kanto Local Finance Bureau that it has raised its stake in Ezaki Glico for "pure investment."
According to the report, Steel Partners acquired a 5.21 percent stake in Ezaki Glico in July and started to buy more shares in the Osaka-based company in late October. On Thursday, it purchased as many as 9 million more shares, bringing the total number of Ezaki Glico shares it holds to some 18 million.
The U.S. fund became known among Japanese investors in 2003 by launching hostile takeover bids for two Japanese companies, Yushiro Chemical Industry Co. and fabric dyer-finisher Sotoh Co.
asia.news.yahoo.com/051111/k...8k80.html
(Kyodo) _ U.S. investment fund Steel Partners has emerged as the biggest shareholder of leading Japanese confectioner Ezaki Glico Co. with a 12.45 percent stake, according to a report submitted Friday by the fund to the Finance Ministry.
The U.S. fund, known in Japan for its past hostile takeover bids in the country, said in its report to the ministry's Kanto Local Finance Bureau that it has raised its stake in Ezaki Glico for "pure investment."
According to the report, Steel Partners acquired a 5.21 percent stake in Ezaki Glico in July and started to buy more shares in the Osaka-based company in late October. On Thursday, it purchased as many as 9 million more shares, bringing the total number of Ezaki Glico shares it holds to some 18 million.
The U.S. fund became known among Japanese investors in 2003 by launching hostile takeover bids for two Japanese companies, Yushiro Chemical Industry Co. and fabric dyer-finisher Sotoh Co.
asia.news.yahoo.com/051111/k...8k80.html
posted by:
|
SF Bay Area
|
