ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business deals

Maeda's takeover bid for affiliate road builder faces resistance

Cash-rich Maeda Road spurns offer and looks for white knight

A highway interchange in Tokyo: Maeda Corp. seeks to expand its toll business, aided by a takeover of affiliate Maeda Road Construction.   © Reuters

TOKYO -- Midsize Japanese builder Maeda Corp. has triggered an unusual squabble within a business group, saying Monday it will launch a hostile tender offer for affiliate Maeda Road Construction.

Maeda Corp., the top shareholder in the road builder with a stake of just over 24%, aims to raise its interest to 51% and turn the unit into a consolidated subsidiary. Maeda expects to pay 86.1 billion yen ($781 million) for its increased ownership.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more