Sankyo Bussho Co., Ltd. cancelled the acquisition of Umidonya Co., Ltd from Maruichi Co. Ltd., Nosan Corporation, Kenichi Tanaka and relatives and others.
August 07, 2013 at 09:30 am IST
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Sankyo Bussho Co., Ltd. agreed to acquire Umidonya Co., Ltd from Maruichi Co. Ltd. (NSE:8228), Nosan Corporation, Kenichi Tanaka and relatives and others in stock on August 7, 2012. Sankyo will issue 24 shares for every share of Umidonya. Sankyo will issue 1,440 shares in the transaction. Sankyo will be the surviving company while Umidonya will be the dissolving company. Umidonya had sales of ¥4.87 billion, net assets of ¥214 million and ¥535 million for the year ending September 2011. Approval of the merger by the Board of Directors of Sankyo Bussho, Maruichi and Umidonya and conclusion of the merger agreement is scheduled on August 8, 2012. Approval of the merger by the shareholding commission of Umidonya and Sankyo is scheduled on August 27, 2012. The transaction was resolved by the Board of Directors of Maruichi on August 7, 2012. The transaction is expected to complete on October 1, 2012.
Sankyo Bussho Co., Ltd. cancelled the acquisition of Umidonya Co., Ltd from Maruichi Co. Ltd. (NSE:8228), Nosan Corporation, Kenichi Tanaka and relatives and others on August 7, 2013.
MARUICHI Co.,Ltd. is a Japan-based company mainly engaged in the wholesale of fresh and processed foods such as marine products and livestock products and general processed foods. The Company operates through four business segments. The Marine Products segment sells marine products, processed marine products, daily items and frozen foods, and manufactures processed marine products. The General Food segment sells general dry foods, general processed foods and confectionery. The Livestock segment manufactures and sells livestock products and processed livestock products. The Maruizu Nagano Prefectural Water Group develops food wholesale business mainly in the Nagano Prefecture area. The Company is also involved in the logistics and refrigerated warehouse business, office automation (OA) equipment and communication equipment sales and insurance agency business.
Sankyo Bussho Co., Ltd. cancelled the acquisition of Umidonya Co., Ltd from Maruichi Co. Ltd., Nosan Corporation, Kenichi Tanaka and relatives and others.