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Konaka prepares to stitch up Futata.

Publication: Vietnam Investment Review
Publication Date: 21-AUG-06
Format: Online
Delivery: Immediate Online Access
Full Article Title: Konaka prepares to stitch up Futata.(Aoki Holdings Inc.)

Article Excerpt
Japan's fourth-largest menswear retailer Konaka Co. said it is ready to buy affiliate Futata Co, which would thwart a takeover by bigger rival Aoki Holdings Inc.

Futata, which is 20 per cent owned by Konaka, said it was studying proposals from both firms and had asked Aoki to delay a deadline for it to respond to a proposed $114 million takeover.

Shares in Futata rose 2.86 per cent to close at 792 yen last week, 13 per cent above Aoki's offer price of 700 yen, reflecting market expectations for a higher bid from Konaka or a sweetened bid from Aoki.

Aoki trails...

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