Regarding the business integration between the "Kansai Supermarket" in Hyogo and Osaka and the operating company of Hankyu Hanshin Department Store, the Osaka High Court has canceled the provisional disposition ordering the suspension of procedures.
Okay, who was seeking an injunction against the procedure, has indicated that it will not make a takeover offer to Kansai Super unless the allegations are approved, and Okay's decision will be the focus.
At the extraordinary general meeting of shareholders of Kansai Super at the end of October, a management integration plan with "H2O Retailing," which operates Hankyu Hanshin Department Store, was approved by a small margin.
In response, "OK", which intended to acquire Kansai Super, filed a provisional disposition seeking an injunction against the integration procedure, saying that the votes that should be treated as "abstention" were counted as "agree", and the Kobe District Court last month. I ordered an injunction.
Following the appeal of Kansai Super, the Osaka High Court decided on the 7th to cancel the provisional disposition that ordered the suspension of the procedure.
Okay has stated that it will not make a takeover offer, saying that it will accept the court's decision if the allegation is finally denied.
Kansai Super is scheduled to merge with H2O on December 15th to become a subsidiary, and the decision on the OK side following this decision will be the focus.