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Mitsubishi offers to buy 31 pct of Kentucky Japan

Wed Oct 31, 2007 2:53am EDT

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TOKYO, Oct 31 (Reuters) - Mitsubishi Corp (8058.T), Japan's biggest trading house, said on Wednesday it would buy 31 percent of Kentucky Fried Chicken Japan Ltd (9873.T) through a tender offer for 13.9 billion yen, raising its stake in the company to 62.8 percent.

Stocks  |  Mergers & Acquisitions

Mitsubishi will offer 1,947 yen per Kentucky Fried Chicken Japan share, a discount of about 9 percent on Tuesday's closing price of 2,165 yen.

Kentucky Fried Chicken Corporate Holdings has agreed to the bid, Mitsubishi said in a statement.

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