Japanese court puts Kansai's H2O Retailing merger on hold (updated)
22/11/2021 10:31
(Adds Kansai Super Market's statement)
TOKYO, Nov 22 (Reuters) - A Japanese district court on
Monday granted an injunction against Kansai Super Market Ltd's
9919.T planned merger with H2O Retailing Corp 8242.T .
Supermarket operator OK Corp, which was also interested in
buying Kansai Super Market, had sought the injunction over
alleged irregularities with Kansai Super Market's vote counting
process at the shareholder meeting that approved the deal.
OK Corp released a statement welcoming the court's decision.
Kansai Super Market said in a separate statement that it
plans to ask the court to reconsider the injunction. "The
decision is highly disappointing," it said.
(Reporting by Makiko Yamazaki and Sakura Murakami
Editing by David Goodman, Kirsten Donovan)
((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))