Tokyo high court rejects request for injunction against Tokyo Kikai poison pill - court document
09/11/2021 07:47
TOKYO, Nov 9 (Reuters) - The Tokyo High court has rejected
Asia Development Capital's 9318.T 's request for an injunction
against Tokyo Kikai Seisakusho Ltd's 6335.T planned use of a
poison pill, according to a court document seen by Reuters
Asia Development Capital has built up a 40% stake in Tokyo
Kikai Seisakusho, Japan's biggest newspaper printing press
manufacturer, in a matter of weeks to become its largest
shareholder.
Tokyo Kikai Seisakusho wants to issue new shares that would
dilute Asia Development Capital's stake and prevent a takeover.
Asia Development Capital has been seeking to block the share
issue, but a lower court rejected its request, prompting Asia
Development Capital to appeal to the high court. urn:newsml:reuters.com:*:nL4N2RN4DN
(Reporting by Makiko Yamazaki, writing by Ju-min Park; Editing
by Kirsten Donovan)
((ju-min.park@thomsonreuters.com; Reuters Messaging:
ju-min.park.thomsonreuters.com@reuters.net))