Japan's Nitori considers hostile bid for Shimachu, Nikkei reports (updated)
20/10/2020 14:55
(Adds details from Nikkei report, DCM's tender offer)
TOKYO, Oct 20 (Reuters) - Japanese furniture retailer Nitori
Holdings Co 9843.T is considering making a bid for Shimachu Co
8184.T that would challenge an offer for the home improvement
retailer made by DCM Holdings 3050.T , the Nikkei business
daily reported.
DCM said this month it was seeking to buy smaller rival
Shimachu at 4,200 yen ($39.74) a share for a total 164 billion
yen. urn:newsml:reuters.com:*:nL4N2GT18K
Shimachu, whose shares closed at 4,195 yen on Tuesday, has
said it supports DCM's bid. This would make any bid by Nitori
hostile, Nikkei reported.
The tender offer started on Oct. 5 and was to run until
Nov. 16.
All three companies could not be reached for comment outside
business hours.
($1 = 105.6800 yen)
(Reporting by Chang-Ran Kim; Editing by Edmund Blair)
((ran.kim@thomsonreuters.com; +81-3-4563-2740;))