TOKYO -- Japanese furniture retailer Shimachu has decided to accept a roughly 210 billion yen ($2 billion) takeover offer from industry peer Nitori Holdings, Nikkei learned Thursday.
Shimachu previously supported a tender offer by DCM Holdings, another industry compatriot. But it has changed tack after Nitori offered a 30% premium on DCM's terms. The decision means Nitori will not attempt a hostile takeover of the company.
