Japan's OK Corp offers 64% premium for Kansai Super if merger with H20 scrapped
03/09/2021 24:20
TOKYO, Sept 3 (Reuters) - Japan's OK Corp on Friday said it
would launch a tender offer for Kansai Super Market Ltd 9919.T
shares offering 2,250 yen each - a 64% premium over the latest
closing price - if the target scraps a plan to merge with H2O
Retailing Corp 8242.T .
In a statement, supermarket operator OK Corp, which owns
7.69% of Kansai Super Market, said it would oppose the plan at
Kansai's extraordinary shareholders meeting planned on Oct. 29.
Shares of Kansai Super closed at 1,374 yen on Thursday.
(Reporting by Chang-Ran Kim; Editing by Christopher Cushing)
((ran.kim@thomsonreuters.com; +81-3-4520-1228))