Cerberus raises Seibu stake, falls short of target
Cerberus Capital Management has raised its stake in Japan's Seibu Holdings to 35.48%, giving it enough control to block resolutions by management. However, the New York-headquartered firm fell short of its goal of buying 44.7% of the Japanese rail and property group.
According to a statement, Cerberus has purchased 10.4 million additional shares after receiving application from 2,916 Seibu shareholders accounting for 21.3% of all shareholders. The two sides have...
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