Japan's Maeda Road to hold media briefing with rival amid hostile bid
27/02/2020 06:48
TOKYO, Feb 27 (Reuters) - Japanese road builder Maeda Road
Construction 1883.T , a target of a hostile take over bid by
its largest shareholder Maeda Corp 1824.T , will hold a media
briefing on Thursday with builder Nippo Ltd 9913.T , the two
companies said in a statement.
They did not elaborate what role Nippo would play, including
whether it was a white knight.
Top management of both companies will attend the briefing
that is scheduled to start at 1700 JST (0800 GMT).
Japanese construction firm Maeda Corp is running a tender
offer bid to increase its stake in Maeda Road to 51% from
24.68%, which the latter has rejected. urn:newsml:reuters.com:*:nL4N29T1NC urn:newsml:reuters.com:*:nL4N2AK0DC
(Reporting by Junko Fujita)
((813-4563-2711, junko.fujita@thomsonreuters.com, Reuters
Messaging:junko.fujita.reuters.com@reuters.net;))