CHICAGO–(BUSINESS WIRE)–RMB Capital (�RMB), a Chicago-based independent investment advisory firm, filed a petition at the Tokyo District Court objecting to the tender offer to FamilyMart Co., Ltd. (8028 JP, FamilyMart) by Itochu Corporation (8001 JP, Itochu).
RMB believes the tender offer, including the offered price, was significantly unfair for the minority shareholders of FamilyMart, for the following reasons:
Further, RMB believes the tender offer is problematic under ESG investing standards, which have been gaining more attention and acceptance globally. While Itochu and FamilyMart are well-established companies representing Japans industry and economy, they ignored key principles of the capital market through this tender offer process and also trampled on ESG principles by failing to fulfill their social duty. RMB hopes to establish a best practice case to ensure the fairness of the tender offer processes in Japan.
Please refer to this link for RMBs past press releases on this topic.
Contacts
Masakazu Hosomizu
RMB Capital
japan@rmbcap.com
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