Eiken Chemical (TYO:4549) sent a draft agreement to Dalton Investments after the shareholder formally proposed six board candidates, raising the risk of control if all are elected, according to a Monday filing on the Tokyo Stock Exchange.
The diagnostics firm said Dalton's push ties into a potential buyout and warned of possible conflicts of interest.
Eiken also cited flaws in Dalton's financial model and said any Dalton-linked directors would be barred from votes on related-party matters.
Price (JPY): $2234.00, Change: $+18, Percent Change: +0.81%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.