TOKYO (Reuters) – Activist fund Strategic Capital said it has extended its hostile bid for Japanese property firm Keihanshin Building to Jan. 12 from Thursday.
Strategic Capital, set up by Tsuyoshi Maruki, who used to work with Japanese prominent activist investor Yoshiaki Murakami, did not raise the offer price, as recent gain in Keihanshin’s stock price was only driven by expectation for a higher bid, the fund said in a filing.
Strategic Capital last month launched the 1,900 yen ($18.42) per share bid for Keihanshin, which owns office and retail buildings as well as data centres mainly in the Osaka region. Keihanshin is opposed to the bid.
($1 = 103.1500 yen)
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