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Japanese courts must backstop protections for minority shareholders

Takeover bids involving Line, FamilyMart and Nichii Gakkan deserve scrutiny

| Japan
Why hasn't Line's special committee revisited the pricing issue after ten eventful months? 

Stephen Givens is a corporate lawyer based in Tokyo.

A flurry of bids to take "listed subsidiaries" private is testing the integrity of Japan's legal protections for vulnerable minority shareholders in transactions where conflicts of interest are rife, and the controlling shareholder holds all the cards.

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