HONG KONG -- Japanese sportswear maker Descente's second-largest shareholder has decided to support Itochu in an increasingly heated takeover battle for the company, arguing that a tighter grip by the Tokyo trading house will boost its business.
"If Descente transforms according to Itochu's plan, shareholders will benefit," said Ding Shizhong, chairman and CEO of China's Anta Sports Products, explaining his support.
