Korea M&A Corporation

TOKYO (AP) - Japanese instant noodle maker Myojo Foods Co. said Tuesday it is opposed to a takeover bid launched by Steel Partners Japan, saying it would rather implement its own business plans.Steel Partners launched a 29.82 billion yen (US$253.96 million; euro199.7 million) takeover bid for Myojo Foods on Friday, still a rare move in a country where consensus and negotiation, not direct appeal..

The Murakami fund is expected to sell all of its shares in Hanshin Electric Railway Co., making it certain that Hankyu Holdings Inc. will successfully conclude its tender offer for the railway operator, according to sources.The Murakami fund, which holds some 47 percent of outstanding Hanshin shares, will likely decide to sell the stake Monday, the last day of the tender offer, the sources said ..

A hostile tender offer (“takeover”) begins with an unsolicited offer by a bidder to purchase a majority or all of the target firm’s shares. The bidder will set the offer for a particular period of time, at a price, and a form of payment, and may attach conditions to the offer. The target will ordinarily undertake evasive maneuvers. Research shows that the hostile bidder consummates a deal in abo..