Mitsubishi offers to buy 31 pct of Kentucky Japan
TOKYO, Oct 31 (Reuters) - Mitsubishi Corp (8058.T: Quote, Profile, Research, Stock Buzz), Japan's biggest trading house, said on Wednesday it would buy 31 percent of Kentucky Fried Chicken Japan Ltd (9873.T: Quote, Profile, Research, Stock Buzz) through a tender offer for 13.9 billion yen, raising its stake in the company to 62.8 percent.
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.
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Sphere
Piracy fight
Obama visits Jewish shrine