Oasis could seek appraisal rights in Itochu CTC buyout -Oasis founder

Itochu Techno-Solutions

16/11/2023 24:30

TOKYO, Nov 16 (Reuters) - Hong Kong-based Oasis
Management could go to court to seek a higher price for trading
house Itochu's  8001.T  acquisition of a subsidiary through a
so-called appraisal process, the founder of the activist fund
said Thursday.
    Oasis emerged as a major shareholder with a 6.42% stake in
Itochu Techno-Solutions (CTC)  4739.T  after Itochu completed a
tender offer that raised the parent's stake from 61.24% to about
86%. Itochu plans to take CTC private in December.
    The appraisal process is designed to protect investors who
oppose a buyout by allowing them to ask a judge to determine
fair value of a stock.

 (Reporting by Makiko Yamazaki; Editing by David Dolan)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))