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Rakuten still going after TBS?

April 23, 2007
By Ken Worsley


Just in case you thought it was only foreign funds going after equity buyouts and triggering protectionist measures from Japanese firms…

Late last Thursday, Rakuten announced that it would seek to push its holdings in TBS (Tokyo Broadcasting System) above 20%. Currently, Rakuten holds 19.98% of TBS shares. Reuters tells us that back in February, TBS announced that:

It would introduce a “poison pill” measure to block hostile takeovers, which would enable it to issue equity warrants if a bidder tried to take a stake of 20 percent or more.

As of 8pm, there’s no new news from the Japanese financial websites…

Filed Under Business, M&A 

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