Tsuruha Investor Opposes Merger with Welcia
Tokyo, April 14 (Jiji Press)--A major stockholder in Tsuruha Holdings Inc. clarified Monday its stance against plans to merge the leading Japanese pharmacy chain with its biggest rival, Welcia Holdings Co., in a stock swap and subsequently make the merged company a consolidated subsidiary of Welcia's parent, Aeon Co., through a tender offer.
In a statement, Orbis Investments K.K., which holds a 9.7 pct stake in Tsuruha, said the plans significantly underestimate Tsuruha's corporate value, calling on other Tsuruha owners to oppose the integration scheme at a general shareholders meeting set for May 26.
(2025/04/14-19:33)
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