(Reuters) - DaVinci, which already owns about 10 percent of TOC, said it would offer 1,100 yen per share in the tender from May 21 to July 18. It expects to pay 77 billion yen to raise its stake to 61 percent.
TOC, which manages buildings in the Tokyo area and leases them to wholesale and retail companies, had launched its own tender from April 9 to May 11 via a fund led by TOC President Takuo Otani, aiming to go private in a management buyout.
Read more at Reuters.com Mergers News
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