[TOKYO] Six main Japanese newspaper corporations mentioned on Friday they may purchase a 3rd of Tokyo Kikai Seisakusho Ltd to salvage the nation’s prime maker of newspaper printing presses from a chronic struggle with an unwelcome shareholder over management.
A bunch firm of the Yomiuri Shimbun, one of many world’s largest newspapers by circulation, and 5 others pays a complete of two.2 billion yen (S$23.4 million) to purchase 32 per cent of Tokyo Kikai from prime shareholder Asia Growth Capital (ADC).
The 106-year-old maker has been engaged in a carefully watched battle with ADC, which owns about 40 per cent of the corporate. It received supreme courtroom approval final 12 months for a “poison capsule” takeover defence towards the funding agency.
REUTERS
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