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Descente Opposes Tender Offer by Itochu

Descente Opposes Tender Offer by Itochu

   Tokyo, Feb. 7 (Jiji Press)--Sportswear maker Descente Ltd. <8114> said Thursday it opposes a tender offer launched by its top shareholder, major trading house Itochu Corp. <8001>.
   After Itochu acquires more shares in Descente, there is a danger that the business priority might be the interests of the trader's group over the corporate value of Descente and the common interests of the sportswear maker's shareholders, Descente said in a statement explaining its reasons for opposing the tender offer.

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