Showa Shell Sekiyu KK (5002.T)
26 Aug 2016
* Idemitsu to seek discussions with big shareholders (Adds company comment, context; fixes slug)
TOKYO, Aug 9 The founding family of Japan's Idemitsu Kosan Co Ltd has made a fresh call on management to give up its plan to merge with rival oil refiner Showa Shell Sekiyu KK.
TOKYO Japan's Idemitsu Kosan is looking to acquire a smaller stake in Showa Shell Sekiyu than planned, aiming to counter efforts by the former's founding family to block a merger of the two oil refiners, the Nikkei business daily reported on Friday.
* Smaller stake purchase may counter Idemitsu family's plan-Nikkei
Aug 4 Idemitsu Kosan Co Ltd is looking to acquire a smaller stake in Showa Shell Sekiyu than planned, aiming to counter efforts by the former's founding family to block a merger of the two oil distributors, the Nikkei reported.
* Purchase raises prospect of possibly expensive tender offer
TOKYO, Aug 4 Japan's Nikkei share average gained on Thursday as bargain hunting prevailed during a see-sawing session, while refiner Idemitsu Kosan slid as its takeover bid for a Showa Shell hit an obstacle.
TOKYO, Aug 4 Shares of Showa Shell Sekiyu KK and Idemitsu Kosan Co Ltd tumbled on Thursday after the Idemitsu founding family upped the ante in its efforts to block a plan by Idemitsu management to acquire the firm's smaller rival.
* Founding family bought 0.1 pct stake in Showa Shell -lawyer
TOKYO, Aug 3 The founding family of Idemitsu Kosan Co has bought 400,000 shares in Showa Shell Sekiyu KK, enough to be able to force a tender offer bid for its rival, in the hope of blocking management's takeover plan, the family's lawyer said.