⁍ Japanese furniture retailer Nitori Holdings Co is considering making a bid for Shimachu Co, Nikkei reported.
⁍ Nitori would challenge an offer for Shimachu made by DCM Holdings.
⁍ Nitori’s bid would make any bid by Nitori hostile, Nikkei reported.
– Japan’s Nitori Holdings is considering a bid for rival home improvement retailer Shimachu after DCM Holdings launched a bid of its own this month, the Nikkei business daily reported. DCM said it was seeking to buy Shimachu at 3,980 yen per share for a total of 164 billion yen. Shimachu’s shares closed at 4,195 yen on Tuesday, in line with DCM’s bid. Nitori would be able to make a bid for Shimachu that would be hostile, the Nikkei reported.
Source: https://www.reuters.com/article/shimachu-ma-nitori-holdings/update-1-japans-nitori-considers-hostile-bid-for-shimachu-nikkei-reports-idUSL4N2HB3H4