Japan court rejects request for injunction against controversial poison pill
29/10/2021 08:37
TOKYO, Oct 29 (Reuters) - A court on Friday rejected a
request for an interim injunction from Tokyo Kikai Seisakusho
Ltd's 6335.T biggest shareholder that would have prevented the
company from issuing a poison pill - a closely watched ruling
with implications for future hostile bids in Japan.
The court rejected injunction request from Asia Development
Capital 9318.T , according to a copy of the ruling seen by
Reuters.
Tokyo Kikai, Japan's biggest manufacturer of printing
presses for newspapers, is seeking to issue new shares that
would dilute Asia Development Capital's 40% stake - a holding
that the investment firm built up rapidly in a matter of weeks.
(Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)
((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))