Japan's Shimachu to accept counter bid by Nitori after previously agreeing to be bought by DCM -Nikkei
12/11/2020 23:04
TOKYO, Nov 13 (Reuters) - Japanese home improvement retailer
Shimachu Co 8184.T will accept a tender offer bid (TOB) by
furniture retailer Nitori Holdings Co 9843.T , the Nikkei
reported on Friday, after Shimachu once agreed to be bought by
DCM Holdings Co 3050.T .
Nitori had said it would pay 5,500 yen per share for
Shimachu as a counter bid, after DCM said it would pay 4,200 yen
per share.
Nitori will launch the TOB as early as mid-November, the
newspaper said.
(Reporting by Takashi Umekawa
Editing by Chris Reese)
((Takashi.Umekawa@thomsonreuters.com;))