Cosmo Energy sees Iwatani's stake purchase as positive
04/12/2023 09:48
TOKYO, Dec 4 (Reuters) - Japan's Cosmo Energy 5021.T
said on Monday it took a positive view on a stake purchase by
gas company Iwatani Corp 8088.T .
Cosmo also decided to withdraw a takeover defence against a
group of activist investors and cancelled an extraordinary
shareholders meeting scheduled for Dec. 14, the company said in
a statement.
Iwatani on Friday announced it agreed to buy about 20% in
Cosmo from a group of activist investors.
(Reporting by Rocky Swift, Editing by Louise Heavens)
((rocky.swift@thomsonreuters.com;))