Aiming to acquire "Kansai Supermarket" based in Hyogo and Osaka, "OK" based in the Tokyo metropolitan area has stated in a document why Kansai Super should be integrated with the operating company of Hankyu Hanshin Department Store. In response, I sent a new questionnaire, saying that the explanation was still insufficient.
"OK" explained that "Kansai Super," which had proposed a takeover bid for TOB = shares, announced a business integration with "H2O Retailing," which operates Hanshin Hanshin Department Store. I sent a questionnaire last week saying that it wasn't enough, and Kansai Super then documented why integration with H2O was desirable.
In response, OK sent a new questionnaire to Kansai Super on the 28th, saying that the explanation was still insufficient.
The questionnaire asks for a more detailed business plan to determine if the business integration is rational and feasible, and the merger is more beneficial to shareholders than OK's takeover offer. I am asking you to show the grounds for thinking as soon as possible.
Kansai Super is poised to seek approval for the merger at an extraordinary general meeting of shareholders at the end of next month as it develops into a battle between OK and H2O, but OK, who opposes it, wants to get the approval of other shareholders. The offense and defense with a view to the general meeting is becoming more intense.