Mitsui Fudosan to launch joint $1 bln tender offer for Tokyo Dome - Bloomberg News

Mitsui Fudosan Co

26/11/2020 22:21

Nov 27 (Reuters) - Japanese property developer Mitsui
Fudosan Co  8801.T  plans to launch a tender offer of more than
100 billion yen ($960 million) for ballpark operator Tokyo Dome
Corp  9681.T , Bloomberg News reported.
    The bid for the owner of the home stadium of Japan's Yomiuri
Giants baseball club will likely include a partner and a premium
to Thursday's closing share price of 897 yen, the report said.
    Tokyo Dome recently became the latest target for corporate
activism, with Hong Kong-based fund Oasis Management calling for
a special shareholders' meeting to remove three board members,
including President Tsutomu Nagaoka.
    The fund has argued that Tokyo Dome was not making the best
use of the prime location of its stadium, as well as the hotel
and theme park in the complex. The company is due to hold the
extraordinary shareholder meeting on Dec. 17.  urn:newsml:reuters.com:*:nL4N2HW20H

($1 = 104.2200 yen)

 (Reporting by Chang-Ran Kim in Tokyo; editing by Richard
Pullin)
 ((Ran.kim@thomsonreuters.com))