Aeon Co (TYO:8267) said it has commenced a tender offer to acquire shares of TSURUHA HOLDINGS (TYO: 3391), following the satisfaction of all preconditions outlined in its capital and business alliance agreement, according to a Tuesday filing on the Tokyo Stock Exchange.
AEON, currently the largest shareholder with a 41% stake, aims to make TSURUHA a consolidated subsidiary. The tender offer price is set at 11,400 yen per share.
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